crude

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setliff
Posts: 1823
Joined: Tue Apr 27, 2010 12:15 pm

crude

Post by setliff »

is back above the 50dma since june. bullish
dan_s
Posts: 37313
Joined: Fri Apr 23, 2010 8:22 am

Re: crude

Post by dan_s »

The only resistance I see on the charts are minor at $50 and $52. Then it is clear sailing to $60. However, I think Wednesday's move was just a reaction to the draw from storage. Let's hope from some follow through.
Dan Steffens
Energy Prospectus Group
setliff
Posts: 1823
Joined: Tue Apr 27, 2010 12:15 pm

Re: crude

Post by setliff »

the charts show me a target of 54. yesterday was a breakout of one of the following (dependent on the eyes of the beholder) a pennant or a wedge. either way it set that 54 target. time will tell and fundamentals will prevail.
setliff
Posts: 1823
Joined: Tue Apr 27, 2010 12:15 pm

Re: crude

Post by setliff »

the charts for the s&p and dji look very very similar to wti the last month.

fwiw
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