claydoctor
Short

OIL - CL1! similar structures produce similar results?

NYMEX:CL1!   LIGHT CRUDE OIL FUTURES
432 3 7
The structure of 1 , 2, and 3 are similar, especially 1 and 2. The RSI in sync with price. Take your pick, similar cyphers, similar triangles, all working one large head and shoulders . Oil             is up early today, but its early, and as volumes picks up today after few days of low volume , we will see a break out. Which way, IMO down, but you never know. There is always the factor of "wars and rumors of wars". China straights, Russia in Syria bombing, just pick a country, and you never know which event will disrupt production and/or supply in tat area. My take is, nothing major yet, but soon, and quiet long enough to complete the right shoulder. Tough to make this call as we see OIL             headed up today, but it did the last two times also, a mild upswing, then the bottom falls out as it reaches the end of energy of the triangle at points C in the cyphers, green circles.
andberg PRO
a year ago
this is it, very clear
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Could very well be...everyone expects up, which would also prop up equities further.
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claydoctor IvanLabrie
a year ago
Descending and broadening wedge in many indexes. Perhaps an upswing when MA start, after smaller fracking companies with much debt go bankrupt, but I just think we head down before all that. The bottom would correlates about that time. I know this is contrarian, but that's what my charts say. Oh well. have to trust them.
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