Posts Tagged oil
My post regarding Crude Oil a few days back showed that the market actually was consolidating, make a false break higher to lock in the longs and then came crashing down almost 400 points... Crude Oil actually lost around 4% of it's value in one day.
I am a bit miffed to be honest.. I had thought that we were going to see prices move lower last week when the price fell below the support line around 9100... it dipped just below 9000 before rallying in total around 300 points. At this time,
October 3, 2012
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As per yesterdays post, Crude Oil indeed broke through support and headed south. The move was pretty much down all the way until it got around the round number 89.00 when we saw some buyers.. the price has gone up since the low of 88.94 to now 90.14 but the trend is still down for this.
For those who are short, despite the buyers below, so long as the price doesn't go back above support (now resistance) you should be ok. I would move the stop down to 92.00 or so however to lower the risk
September 26, 2012
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Well I was able to enter the Crude Oil trade last night... seems that the market closes for a couple of hours and reopens at 11.00pm UK time. I entered as soon as it was open and got a price of 9342.
You can see from the chart that resistance there showing selling..
I showed the lowest price of today which would have netted 172 points but it's impossible to know when the trend is going to end and you need to give the trade enough room move.
However, by using the 15 minute charts,
August 10, 2012
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