Wednesday 18 August 2010

Crude oil reversal? Update




Here is a daily and 60 min continious CL chart. I have added reaction lines to the 60 min chart and they tell the whole story. The point is are we going to the green CL in the metatrader chart?
One moment i am convinced then the next i am doubtful and having just come into to office i now see a potential bottom forming..I guess we are going lower but just take a look at the daily chart we have the pink fork where there is no chance of a CL touch and we are still making our way to the royal blue CL which if time and price judged will be at about 100-105 bucks

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