|
Post by David on Mar 26, 2006 23:46:37 GMT -5
Crude Oil Mkt Update - If oil does not break below 57 dollars soon it will flash a positive divergence on the hourly charts which means it could trade all the way up to the 66 mark before puling back. 3/21/06 David - short term trend is sideways, Huge support at 57.70, nothing significant to add that isn't already stated in Mkt Update.
|
|
|
Post by David on Apr 2, 2006 21:57:05 GMT -5
Mkt Update - Oil did not trade below 57 dollars and did end up flashing a positive divergence signal and it traded all the way up to the 66-dollar mark as stated last week. 3/28/06 David - My Last week chart was not the most recent contract, so it was missing 2-3 days of data. Trend, CCI still up. Sto just crept into overbought territorry but not too significant right now, look at previous periods sto stayed in ovrbought price continued to make significant advances (jun, aug '05 and Jan '06)
|
|
|
Post by David on Apr 16, 2006 16:39:39 GMT -5
Mkt Update - Oil is being totally driven by Geopolitical factors now; tension between the US and Iran and Venezuela continue to mount (bear in mind that these two chaps are the number 2 and 3 producers). Furthermore the relationship between Russia and the US continue to sour and currently Russia is the worlds largest swing producer of oil. If oil is able to trade past 68.10 on good volume then it will almost certainly test the 70.00 ranges again before pulling back. 4/4/06 David - Notice potential formation of triple top
|
|