May 20, 2013
- in Uncategorized by schooloftrade
Can buyers keep this price moving higher? Crude Oil finds new bullish price-channel
 |
| Crude Oil Daily |
Crude Oil Daily:
Daily anchor
chart shows us the sell-zone at 96.00 is still in the picture because we have
NOT closed a candlestick above the highs of 90.77. This sell-zone will be key supply early in
the week.
chart shows us the sell-zone at 96.00 is still in the picture because we have
NOT closed a candlestick above the highs of 90.77. This sell-zone will be key supply early in
the week.
Will the buyers have
too much demand for the sellers?
too much demand for the sellers?
We have
plenty of room for this price-action to fall off these highs, and we will be
looking for a close of Monday’s daily candle below 96.00 for a bearish signal,
and a close above the 90.77 for a bullish signal.
plenty of room for this price-action to fall off these highs, and we will be
looking for a close of Monday’s daily candle below 96.00 for a bearish signal,
and a close above the 90.77 for a bullish signal.
 |
| Crude Oil 60-Minute |
Crude Oil 60-Minute:
The hourly
anchor chart shows us a new bullish price-channel has emerged as we break to
new highs above the price-wedge we had last 2 weeks. We have a big price-reversal zone above us at
96.72 up to 97.33 which is left-over from last 2 week’s bearish price-channel.
anchor chart shows us a new bullish price-channel has emerged as we break to
new highs above the price-wedge we had last 2 weeks. We have a big price-reversal zone above us at
96.72 up to 97.33 which is left-over from last 2 week’s bearish price-channel.
We know that buying the
lows of this bull price-channel will give us the high-percentage-trades but we also know that the price-channel
price-reversal zone overhead may give us some fake-out-breakouts on the way up,
so we will be sure to buy the lows of the price-channel and not chase after
trades after they have triggered.
lows of this bull price-channel will give us the high-percentage-trades but we also know that the price-channel
price-reversal zone overhead may give us some fake-out-breakouts on the way up,
so we will be sure to buy the lows of the price-channel and not chase after
trades after they have triggered.
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