I am not pro here, so i cant have 2 screens inside one post but i will post the 2008/9 for comparison at the comment below If you can have two screens comparing side by side or overlay of these two "bottoms" please do add in the comment thanks
Have i missed out the most important and yet obvious observation huh?? Is this time going to be different or history of 2008/9 oil BOTTOMing process has repeated.
We see that after a prolong plunge and bear oil market since last July 2014 and price had made 2 dips with BUllish divergence. Looks like a W bottom so far.
And the moment price breaks 54.. it seems that there is a layer of No man's land just like the last two weeks of Dec 2014
I slapped myself silly, pinched my cheek hard so that i am objective about this price action.
RV and Spydercrusher have shown linear chart of CL1! that basically oil found support at multiple year uptrendline Please do comment
I am so ashamed of myself for not picking this bottom while i am able to do it for XLE. WHAT THE HECK am i so silly
Bang my head on the table ^_^
P.S. Diff this time? I should wait for retracement now and Long.. any downside should be hedged with shorts
Yorumlar
jangseohee
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IvanLabrie
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Complex sideways chop, then up or down. Basically :)
jangseohee
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there is a potential hidden bullish divergence on daily chart
4hr seems bullish divergence
jangseohee
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jangseohee
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exactly at channel support, overrun to flush
thats where i took my shorted profit
NOW, as long as that hammer low is not violated, looks fine
jangseohee
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29/6/2015
improvising my cup
jangseohee
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still in range
jangseohee
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??
ElPatron.Y
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Beautifull.
jangseohee
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apologize for late update
oil has been trading in the range for quite some time.. NOW
price is testing whether the support is strong enough