chartwatchers
Long

OIL - Epic breakout from the bull flag

FX:USOIL   Crude Oil (WTI)
2486 51 47
Higher high....
Finally we have the breakout of the bull flag .
Guys I hope you start to believe me that I know what I'm doing. I've seen and lived through the same thing in 2009 when oil             came out of the beartrapped double bottom after the bear market.
The difference that I was on the wrong side at that time. I've learnt the lesson very well :
Do NOT short the oil             bull !

Oil             will start to go crazy now. Everybody starts to realize that something is wrong with the fundamental system. The datas are lying. Suddenly everybody wants to be on board with the oil             bull.
There was no reason to come back below 40$ . Saudis played ou their last card in Doha. That was enough to break down - and not up -from the 1st bull flag .

Mark my words: in 2 weeks we will be above 50$.
Our energy stocks (VALE, CLF             , LGCY             , and maybe REXX             , ARP             ) will start their home run in the following 2 weeks.

Purely technical views, I like these very much, as everyone has his first day so as mine, I read these analytical discussion for the first time and enjoyed well. Now I will definitely follow you everyday.
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Purely technical views, I like these very much, as everyone has his first day so as mine, I read these analytical discussion for the first time and enjoyed well. Now I will definitely follow you everyday.
Reply
DO NOT SHORT THE OIL BULL! Nice analysis - you are the man!
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imho perfect pull on the bull flag.
snapshot
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Yes. it was perfect.
+1 Reply
Josef2016 chartwatchers
You really know what you do.Nice done.
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did u see the volumes?
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The breakdown voulme 2 hrs ago?
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XTAL.ball chartwatchers
I keep selling after big red candlesticks... FML
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tbuckle PRO chartwatchers
should we just remain long or is there a good pull back level to anticipate. "break down volume" meaning high enough volume to break through the highs???
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