Replies to post #9494 on VelocityShares Credit Suisse 3X Long Crude ETN (UWTIF)

[Ryantacular]

I agree the reasons for the decline are different. However, even with supply issues, the issues won't remain. Summer driving always has a huge effect, and it's not just because of vacationers, but truckers and regulation changes around that time as well.

As for the pattern, False patterns appear all the time, and they short a lot of people out. If it was always 100 % everyone would be rich.

I'm obviously long term bullish, so you can value my opinion as biased. But history does tend to repeat itself, and the supply issue has been proving since 42 that it's not an issue. If it was, we wouldn't be at 60 right now.

If you look at the daily or weekly chart, you can also see a double bottom reversal pattern. http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:double_bottom_reversal


At the same time, one could argue the charts on the daily or weekly look like a bear gartley 222 pattern. http://www.goldenwire.com/419/gartley-pattern-trading-made-easy/

This one would have to be interpreted off the uwti chart and not the WTI chart though.

Or look at the monthly, and call it a bull gartley 222 starting back with the rise from 05-08 and then the drop from 08 and then the drop now, and now we launch up past 140 even. I'm not saying any of these are true, but you can find patterns in anything really.

Interpret as you may. Just be careful. I mean. I'm on my phone right now. So can explain better later but you should be fine.

[RBKissMyAs]

The trend line for WTI has not been broken on the daily nor the weekly.

[Ryantacular]

One more thing. Just food for thought.

There's way too many news articles about the doji and shooting star and rising star. Whatever you wanna call it.

That screams to me a bunch of people are about to get shorted.

When the news starts bringing charts into there articles, that's when real people start selling and when for a short time , the news actually has enough influence on the price, rather than robots.

Seems fishy to me.