chartwatchers
Long

OIL - Falling with stocks

TVC:USOIL   WTI Crude Oil
3936 58 62
Last week Friday oil             turned down from our daily cycle's first trendline (red). In normal circumstances that level shouldn't have been such a strong resistance but the falling stocks scared the oil             longs also and we had a little panic.
As stocks were moving down into the daily cycle low bears could use the possibility to turn down price from the red trendline . That was the only reason oil             was dropping so heavily last week Friday. Normally we would have had 2 -3 nothing day around the trendline .

The next move will be a break above the red trendline . As we break it I will remove that from the chart and the only trendline I'll be watching is the blue daily cycle trendline which we will be testing or breaking down at the daily cycle low. Though we are getting a bit late in this daily cycle I still think we have 7-10 more days to rally and I would like to see oil             to break above the previous high (51.6$)

If stocks are starting to rally out of the DCL today that will give a big push to oil             shares and oil             also.
The big winner will be XLE             and ERX in this rally.
Comment: We are tagging the daily cycle's trendline. We should bounce from here after today's data. If there is no bounce and we beak down the blue trendline we will be heading to the DCL for 4-5 days. It should be a weak DCL to 42-43$.
snapshot
Comment: We broke the trendline though the data was good.
Let's wait the close
any updates on this chart will be appreciated.
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Can you update it?
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And LGCY shares are you holding still ? And SXE, SXE are going to underperform...
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So I guess DCL was at 42.78$ on friday and we are not gonna go lower on monday or tuesday or any again? Good point to add? I thought that if we talk about 4-5 days of DCL it will be at monday or tuesday.
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Man, are you still holding you oily portfolio ? Do you think that on Monday we should see the reversal ?
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snapshot

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Here is another outlook considering also shoulders with a nek
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The gartley for limited up
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ja.piotr.bor investment6300
wow. It can go up or down... Thanks now we know everything!
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investment6300 ja.piotr.bor
Glad I could help, up or down
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