MaryJane
Short

Bearish shortterm Wedge?

NYMEX:CL1!   Light Crude Oil Futures
1139 15 35
This is the continuation of my last thread:
Double Bottom? Bullish Wedge? Long?


Todays             high @ 46.85$ has to be overcomed for further upwaves with next tp 46,4$ - Attention! I see a shortterm bearish wedge!

Should the wedge be triggered, the 38,2 could be the shortterm target @ 44             .8
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Reminder: We are here!: Near the next possible "3?" @ 46.5$ - this is THE Pivot resistance Level to watch
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Comment: We are here:
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46,5 is still THE Level to watch. Above that Level, an Explosion could be exspected. This is a longterm Long-Trigger!
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Comment: jihaaaaaaaaa....
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Comment: Anticyclical Risk Lover could try to catch the first contact with the resist!
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Comment: scalp tp could be the former bo-niveau
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Comment: !!! i am not a friend of such countertrades!!!
Comment: i would bet on this ....it seems that nothing can stop oil today :-)
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Comment: don`t short in such a bullish day...the trend is your friend!
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Comment: first Position for the "early birds" - second for the Patient cyclical Traders
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Comment: I think there are many many sellers out there who are waiting that oil will test the resistance at 46,5$. i can`t believe that the resist will fall with the first try....
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Comment: crazy crazy crazy!!!!!!
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Comment: unbelievable...
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again reached tp...
Comment: normally i don`t do that...but now i`ll fix it!
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PS. i am off now...
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bye
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Comment: The power of the bearish wedge!!!
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Comment: 46,5$ really was THE LEVEL TO WATCH!
hello Mary...do you mean that the prices will not go to even 46.5 ??? as per the morning analysis???

i am long from 45.80... pl advise.. what is your view??
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MaryJane ma.sanjuy
good morning :-9 46,5 still is the next main tp. TA is very dynamic. i illustrate everything i see....and now i see a shortterm wedge - that does not mean, that the tp 46,5 is not more valid as a tp...the requirement is that we beat the 45.86
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ma.sanjuy MaryJane
GM Mary.. .Perfectly explained. Mary. Thanks again !
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ma.sanjuy MaryJane
mary... the high crosssed 45.86 and went to 45.88 (2 bips above yr specification of 45.86) and again hovering in lower range... can I go long? or should i consider coming out. I am long at 45.80. Would appreciate yr comments.
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MaryJane ma.sanjuy
why did you enter the market @ 45,8? the 45.88/45.9 is an intraday Level where a longscalp could be opened like illustrated....
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ma.sanjuy MaryJane
Mary... i intend coming out at 46.5 .... hence entered the long at 45.80.. pl guide further.
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MaryJane ma.sanjuy
My view is still valid and steady
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MaryJane MaryJane
what do you see? an uptrend! --> The likelihood for a trend continuation is much higher than a trendbreak...like a ball thrown in the Vakuum...something has to give him a push that he will Change his direction..be cool!
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MaryJane MaryJane
aha
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I think 46.70-46.90 may be a good area for short-term shorts
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MaryJane captain_smollett
i fully agree
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tbuckle PRO MaryJane
Is your current view short down to hi 44's or to wait to short at 46.7-8?
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thank you Mary ... for all ur guidance and help today. I did manage to recover some of my past losses :) Thanks to yr valuable advise and guidance. Good nite.
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I haven't seen this chart. From sales 48,20 wrote
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GM Mary. it seems that Oil is anyways doomed to die its death. Reasons are clear .. (a) Oil even if it was available for free, it is widely responsible for damaging the Earth's environment. (b) Greed of the Oil producers kept oil prices articfically high... as a result - world started looking at developing alternate energy sources. Solar energy is now bound to replace Oil in all spheres. (c) Major desert Kingdoms which have been so far manipulating oil prices are now seeing a death of this industry - hence heavily investing in solar power generation - as also trying to divest out of its own oil industry (SAUDI wanting to divest out of SABIC, which was always their cash cow)... (d) capital expenditure in Oil has been replaced by investment in SOLAR POWER systems - solar power production systems capital costs falls down with every passing day... (e) OIL is now doomed... i think the only applicaiton oil would have for future is for making of Greases and Lubricants and no more as fuel. (f) MOST of the oil producing countries have got major civil and milatary unrest.. Civil unrest is often caused because of sinful earnings.
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