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Not that trends cannot be broken but this line has been a kiss of death for 8 months...a jump and long above this would mean its a long for sure
Agree, need some catalysts to break it, not just the rumored talk.
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Do you think the inverse head and shoulders pattern that has formed might be strong enough to break through?
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I am slightly bullish on oil going into March. We still need to see a strong conviction move, there are other factors weighing in as well, see this chart that I published today - there seems to be a big move that is going to happen overall. Stock represented by SPX500 seems to be more independent so far but has to get broiled into the mix much sooner.
SPX500, USOIL, UCD, USDJPY,EURUSD,DXY

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Excuse my ignorance, why are the numeric value of the charge vastly different to WTI oil?
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the base chart is a commodity chart so it shows the scales for that but the levels means the relative values of their own instruments
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and that is a combination chart its a combination of USOIL/USDCAD ...
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