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Jade Gate May 15, 2011 10:01pm | Post# 21

And based on a purely PA based analysis, the first bounce off the support was strong, then retest of the support thursday and week bounce because the close is so weak + no follow through of that bounce.

No surprise if we break the support....we have to look for intraday to see that
The lack of follow through wasn't surprising given the bullish PA on the USD. What I think we will see today, especially during London, is that bullish momo follow through in full swing as the USD is tested on UCHF and EU.

And there is a nice little gap down on open today 99.10-99.37, looking to be filled. When gaps are plugged, they usually get thoroughly plugged, this one going north.

SystemFX2011 Aug 8, 2011 4:37am | Post# 22

Should see a push up later to fill the gap - $86.37 per barrel

masoud_s Aug 12, 2011 9:34am | Post# 23

oil can break 87.26??

TraderJoe007 Aug 12, 2011 9:55am | Post# 24

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I'm pretty sure you've already seen it, all signals have showed up since the crude oil inventories indicated a reduction of oil production. This will usually bring the price of oil back up. It will find its way back to the 90's level again once its breaks 3 major resistance/support levels which already has. I'm still on my 1 contract long gtc @ 80.76 and holding on to it.
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TraderJoe007 Aug 15, 2011 6:18am | Post# 25

I just closed @ 85.58, waiting for another LL to go long.

TraderJoe007 Aug 23, 2011 9:57am | Post# 26

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Oil back at the 83 level, could this be another drive down? stochs show oversold at h4 chart and the 50 and 200 moving average is about to cross on the 5 min chart.

Went short at 84.99 and 84.49, good thing it worked out.

I think could it drive all the way down to 82.15.

any other opinions out there?
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TraderJoe007 Aug 23, 2011 10:02am | Post# 27

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50/200 ema about to cross and the price is way below the bands.

could test 82.15 once passed 83.36?
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TraderJoe007 Aug 23, 2011 10:48am | Post# 28

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Still waiting....
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TraderJoe007 Aug 23, 2011 10:52am | Post# 29

in at 84.94

TraderJoe007 Aug 23, 2011 11:13am | Post# 30

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Still short @ 84.94 waiting to take it out...

now with a 1-2-3 ross hook..
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TraderJoe007 Aug 23, 2011 11:24am | Post# 31

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Now it let it ride down... lets see how it goes....
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TraderJoe007 Aug 23, 2011 12:08pm | Post# 32

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short at 84.94 my trail stop got hit @ 84.65.. +29 ticks, i guess it didn't have the drive down.
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TraderJoe007 Aug 23, 2011 12:25pm | Post# 33

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Short at 85.79... 86.39 was the HH of the day... stochs at overbought levels..

could just be a few tick grab..


this trade worked out well... my PT taken out at 85.16, +63 ticks
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TraderJoe007 Aug 23, 2011 11:18pm | Post# 34

this trade worked out well... my PT taken out at 85.16, +63 ticks

clc4x Sep 3, 2011 2:56am | Post# 35

Oil–Technical Analysis (3 Sept 2011) (Bias: Bearish)
 
How come our beloved government yet to indicate any price decrease on RON 95 and 97? May be they are viewing Monthly chart…..

http://lcchong.files.wordpress.com/2...ng?w=877&h=398

http://lcchong.files.wordpress.com/2...ng?w=877&h=398

TraderJoe007 Sep 7, 2011 12:19am | Post# 36

How come our beloved government yet to indicate any price decrease on RON 95 and 97? May be they are viewing Monthly chart…..

http://lcchong.files.wordpress.com/2...ng?w=877&h=398

http://lcchong.files.wordpress.com/2...ng?w=877&h=398
Good call, had the chance to see the move down over the weekends and early monday. Tuesday's market bounced everything right back up, but had enough time to cover my shorts.

will be looking to your blog, I too use MAs in most of my trades, i could learn more from you..

Thanks LC.

clc4x Sep 7, 2011 9:17am | Post# 37

we will learn from each other.

clc4x Sep 7, 2011 10:36am | Post# 38

Oil–Technical Analysis (7 Sept 2011) (Bias: Bearish + Uncertain)
 
http://lcchong.files.wordpress.com/2...ng?w=877&h=398

sporting Sep 7, 2011 6:04pm | Post# 39

so where do u expect oil to reach this week

TraderJoe007 Sep 8, 2011 4:08am | Post# 40

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so where do u expect oil to reach this week
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4H chart shows the MA crossing to the topside, just tested the 90 level but not a consistent moved up.

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1H chart shows a slight moved down, but the 50 MA is about to cross the 200 MA. Could be another test of the 90's?.


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