May 9, 2013
- in Uncategorized by schooloftrade
Is THIS the Selling Opportunity we’ve waited for? Crude Oil Price Levels say YES!
Crude Oil Weekly:
 |
| Crude Oil Weekly |
Weekly
anchor chart shows us trading at the highs of the price-wedge with a wick at
the top of this week’s candle, which tells us that we’ve backed-off the highs
of the week, but the week has been a bullish week overall. What will the end of
the week look like? Will this weekly candle
close at the highs or will this wick become much bigger as prices collapse on Friday
morning?
anchor chart shows us trading at the highs of the price-wedge with a wick at
the top of this week’s candle, which tells us that we’ve backed-off the highs
of the week, but the week has been a bullish week overall. What will the end of
the week look like? Will this weekly candle
close at the highs or will this wick become much bigger as prices collapse on Friday
morning?
Crude Oil 60-Minute:
 |
| Crude Oil 60-Minute |
The hourly
anchor chart shows us a bullish price-channel structure which tells us to buy pullbacks
near the lows of the price-channel for the high-percentage-trades on Friday. We may not get a pullback before we try to
make new higher-highs so look for a breakout higher overnight or early in the
morning on Friday to stall at the highs of the price-channel around the big-round-number
of 97.00 and then collapse back into the range from 96.65 down to 95.73. As always, this sideways-trading-range tells
us to buy-the-lows at support and sell-the-high at resistance.
anchor chart shows us a bullish price-channel structure which tells us to buy pullbacks
near the lows of the price-channel for the high-percentage-trades on Friday. We may not get a pullback before we try to
make new higher-highs so look for a breakout higher overnight or early in the
morning on Friday to stall at the highs of the price-channel around the big-round-number
of 97.00 and then collapse back into the range from 96.65 down to 95.73. As always, this sideways-trading-range tells
us to buy-the-lows at support and sell-the-high at resistance.
