Sunday, 30 June 2013

Crude

Crude is still holding the 8x1 which is bullish but last week's candle was a bearish engulfing candle.I lean to the view that we get a fast move down but it needs to break the bullish angles first, Can we really have a fast move up when gold is crashing and deflation fears growing ?


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2 comments:

  1. Anonymous30 June 2013 at 20:56

    Thanks CR. I don't know which way this teiangle breaks. I don't think Moe's setup triggered yet short side. I was ST bullish USO (not full oil play) last week and pondering if we breakout of last week's high if that is the setup for the upside scenario. Appreciate your chart.

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  2. Chartrambler30 June 2013 at 21:05

    would be interesting to get CropCircle's view,with the murrey math 100 level just above I guess we are looking at important resistance

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