NYMEX:CL1!   Light Crude Oil Futures
92 5 3
As expected (see previous posts), the 20 DMA provided with a resistance.
To go on with our building of an inverted H&S , a pullback must not drag price below the 200 DMA.
do you think we pull back to close to 200 MA or not much further 42.7?
Bakou tbuckle
Hi tbuckle,
I will observe the shape of the pullback and where it goes to.
If it is a sharp one, dropping fast and low, it is a bad omen.
If it descends gently to a convenient support, we may resume upwards.
So far, on the hourly chart, the 200 x 1h MA corresponds with the 50% Fib of the recent upward move. This could be a nice support.
Best regards.
Thank you for the response. I guess that is what is so concerning about the drop, is that it was such a big drop ....what like .65
tbuckle tbuckle
what are you thinking 41.23?
Bakou tbuckle
Hi tbuckle,
Sorry for the late answer.
Err... We cannot know the level precisely. What we have to determine first is whether it is a pullback en route to a large move north to complete the potential H&S, or if it is the descending trend resuming.
Again, the shape of the down move will tell us.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out