USOIL BUY ON A BULLISH SIGNALWe wait for a closure of candle above the support and strong bullish signal to get in to buy
Xti
Crude Oil Running in to Resistance 4 Hour ChartCrude approaching resistance on the 4 hour chart.
Price action still range bound.
Short from here.
OIL Short!head & shoulder pattern complete! (3 x bounce to top = grey, 3 x bounce to bottom = red).
Now: 4th bounce to top? No! Why?: because else the pattern wont work/exist. So now it cant be a pull to the top because before it did when we had the pattern. but now its finished so it will do the opposite => go down more! easy :)
My wife wants a new MAN... Any takers? Apply within.My wife is fed up and wants a new man... Please send me your applications... And hurry up about it as i dont want her hanging around.
From the chart we can see that this week price broke though our trend line after respecting our resistance zone yesterday, price fell out the sky yesterday afternoon the bears must have been in a hurry, but now we can see bulls taking over for a while and pushing price back up to retest our trend line which just happens to fall in our resistance zone making this a strong setup for a sell.
So we are looking for a re test of our trend line before entering.
My wife wants a new MAN... Any takers? Apply within.My wife is fed up and wants a new man... Please send me your applications... And hurry up about it as i dont want her hanging around.
From the chart we can see that this week price broke though our trend line after respecting our resistance zone yesterday, price fell out the sky yesterday afternoon the bears must have been in a hurry, but now we can see bulls taking over for a while and pushing price back up to retest our trend line which just happens to fall in our resistance zone making this a strong setup for a sell.
So we are looking for a re test of our trend line before entering.
My wife's sisters leaky tapMy wife said i should spend less time around her sisters ( ive told her this leaky tap is a bugger to fix.. its been dripping for 2 months now and i still cant fix it ) ;p
Anyway enough about my marriage issues and lets take a look at oil... After a couple of days of bearish movement from market open this week price finally went into some consolidation today finding support at 56.00 area where the bulls took over pushing price higher.
Now the next area of interest and possible resistance would be where price meets our trend line, a bounce off this level will produce more bearish movement whereas a break of this level could see price push much higher.
So this is not a signal but something to keep your eye on and action your own trade.
Anyway im off round the wife's mothers now, apparently theirs something wrong with her boiler... i will keep you updated.
