Growing my account one stock at a time
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Uh Oh, looks like the U is in a multi month rising wedge formation.
We may be looking at a 20 to 25% drop tomorrow in the U and a similar rise in the D
DWTI the way I see it technically. Trend line holding so far as well as the 50 day moving average.
http://stockcharts.com/h-sc/ui?s=DWTI&p=D&b=5&g=0&id=p48907039587&a=443407141&listNum=1
I Agree with you there. Oils bounce may end at that point.
Sure everything flows from WTIC. I am saying that you can see the effects of that flow on the DWTI and UWTI charts. Look at the two links, and you will see how The DWTI chart gave a better depiction of the coming retrace.
http://stockcharts.com/h-sc/ui?s=$WTIC&p=D&b=5&g=0&id=p07588282955&a=442261148&listNum=1
http://stockcharts.com/h-sc/ui?s=DWTI&p=D&b=5&g=0&id=p17722460730&a=442262656&listNum=1
Here's my quick summary of the DWTI chart.
http://stockcharts.com/h-sc/ui?s=DWTI&p=D&b=5&g=0&id=p85165168990&a=442252587&listNum=1
If oil hit $43, I would expect the gap at roughly $152 to $158 to fill. The 50 MA would be breached along the way. Don't expect it to bouce that high, but anyones guess.
Looks like DWTI has a gap or 2 to fill on the daily.
With the drop in oil last August, UWTI hit a intraday low of 71 cents. Who knows possibly 85 cents to a dollar and another reverse split.
Just saying oil at $25 would do it.
Oil below 30 and the U to a dollar for another reverse split.
Looks like UWTI may have it's day of wonder tomorrow.
You did a good job charting WTIC, a channel is in the making. I charted UWTI which still shows a descending Triangle IMO...
Right about now UWTI looks like one Big Descending Triangle with money heading South.
Hell yeah, and I would be very happy with an 80% short term gain.
Well the U.S. can't police the world. Maybe a skirmish can lead to setting some oil fields on fire. I don't think Syria has any large scale oil operations though.
Looks like things might be looking up tomorrow...
http://www.bloomberg.com/news/articles/2015-09-20/oil-speculators-most-bullish-in-two-months-as-opec-calls-for-80?cmpid=yhoo
Man all sorts of issues today, I meant symmetrical triangle...
Once again hit the candle stick tab and the weekly tab.
Here is a little heads and shoulders collapse on the weekly
http://m.investing.com/commodities/crude-oil-advanced-chart
You have to hit the candle sticks tab
The lower high beat down is shown best on the 30 minute chart
http://m.investing.com/commodities/crude-oil-advanced-chart
The simple way I have been looking at WTIC chart is that the 50 day and 200 day averages are still moving downward. Pennant in a declining chart pattern I am guessing crude goes down this week.
With DWTI the two averages are still moving upward.
We will see what happens this week. Oil needs some kind of good news to move upward.
I hear you, looking for another entry point.
No problem, sold DWTI just in time before the MACD breakdown on the 5 minute chart.
The push for DWTI to break above its MACD line.
The push is coming..
Yeah, that is how it should work. Now we have a battle going on with price looking to stay above the 50 day moving average on the 30 minute.
Looks like a head and shoulders pattern forming on the crude oil chart
http://m.investing.com/commodities/crude-oil-advanced-chart
Share your opinion also. UWTI was looking too move up with some covering at the end of the month. Now crude dropping again and no real reason for crude to go higher yet.
I am banking on it. Will have to see how the price action holds up.