Archive for the Oil Category
Another interesting chart I have is the daily Crude Oil price. You can see that there is strong resistance and the market has failed to get beyond this point. This could be a potential selling opportunity. The only thing about Crude is that it is very volatile and you need to be very careful with it.
The market is currently closed but when it opens I'll see what the market looks like and may even short it...
Will keep you updated!
August 9, 2012
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I want to start off buy saying that I receive a message from a reader today, it read "Hi Alan, I saw your analysis of the Crude Oil market on Friday and decided that it was a good time to get in so I went long. I got in at 84.05 and when the markets opened on Sunday, I was already 200 points up! I took profits! Thank you so much!"
The first thing I want to be clear is that my analysis is not a recommendation to trade.. it's purely educational and if you do trade, it is off your own back! As y
June 11, 2012
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I'd thought I'd bring the above chart to your attention. It is the Crude Oil in the Daily timeframe. I'm wondering if it's poised to move upwards.
My thinking is that there is a pinbar.. a fairly strong one too where the close of the bar is right at the highs of it showing strength. Also, the low is a higher low than previously which is the possible start of an uptrend. The market has been in a long decline and is severely oversold. However, saying all this, we must also bear caution as
June 8, 2012
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