Rob, I I like your contribuitions, really.
But excuse me, but in my book, the crude oil is going down towards $53.
I could be wrong, of course.
saalaah
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@ReallyMe, is the price going to $53 because it just touched your MA line or is it going to $65 based on fundamentals combined with TA? I will definitely put my money on option 2 thank you!!
ReallyMe
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@saalaah, yeah basicically becuase it looks as if it has been rejected testing the red line and is now going downhill from there (also confirmed by the RSI action). Plus some other consideration I won't get into here rigt now. However, I must repeat, I could be wrong, of course. There is nothing certain in the stock market, it can turn around and start rising any time. Nobody can predict the future. The likehood of any prediction is roughly 50%, you must always keep that in mind. Take care
saalaah
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@ReallyMe, and that's why i am increasing my probabilities to 51% by having an edge through Rob's approach (fundamentals and TA). I am not a reversal trader and i dont use RSI (except to monitor divergence).