June 28, 2012
- in Uncategorized by schooloftrade
Crude Oil Up-date @ 1030am EST
We have the report on Obamacare that is currently being ‘digested’
by the markets and the price action is sloppy at these range lows. We can see the price wedge lows as support directly
below us, but it appears the market sentiment after the 1015am Obamacare
Release is being received as bearish.
by the markets and the price action is sloppy at these range lows. We can see the price wedge lows as support directly
below us, but it appears the market sentiment after the 1015am Obamacare
Release is being received as bearish.
We find a short term bear price channel, and the high-percentage
trades on a bear price channel are selling at resistance, and selling at the price
channel highs.
trades on a bear price channel are selling at resistance, and selling at the price
channel highs.
If these sellers are NOT strong enough, the 2nd scenario is
for the highs of the price channel to fail, we move above the 80.00 and we get
LONG buying the seller failure, fading the news, and buying the price wedge lows.
for the highs of the price channel to fail, we move above the 80.00 and we get
LONG buying the seller failure, fading the news, and buying the price wedge lows.
The third scenario is price may sit sideways and
sluggish, and if the market sentiment on Crude Oil says NOTHING AT ALL we need
to sit on hands and stay patience.
