Crude oil 7-26-10
First, let me re-visit some longer term stuff for perspective: a look at seasonals=
conclusion: looking closely , it would appear that both charts seem to be somewhat bullish in posture, but call for an important low in late July. Is last weeks enough? The 64000 question...
Be advised that crude has been tracking the es fairly well, and that index may begin to retreat as soon as tues!...Also its due for a major low sep-oct! .. So you could also make the case for a huge head n shoulders forming or even a large bear flag! The next 2 weeks should provide some clearer answers!
Tried to exit at the 1.618 on the one min at 78.71! too slow! order in too late! ugh!
out at 78.67!... note: my actual entry was 78.88, not 78.90...plus 21 cents!
There is some support around 78.54, but more at 78.42
I wish I could! I am not at all proficient in that type of thing but I have asked someone at sierra to do it. He said he would but only if he has permission to use the original code. So far the author(s) have not responded.