Crude oil 8-02-10

Last week i laid out the case for a rally possibly to the 82.60 area. I still feel as though oil is way overpriced up here , based on fundamentals. On the short term im expecting some resistance at 72.62-72.65...

GM KB. From Glbx low 7883-7927 >>> 7998 which we got within 3 cents of and 7883 - 7935 >>> 8019 which is could be hit on a stop run of 8000.

Unreal action this morning!.. still trying to analyze it!

euro is going bonkers vs usd

just sold one at the one min median line.. just a guess.. short from 80.87....

8064-8077 >>> 8098

Yeah, i show it on my chart... the reason i didnt wait is EVERY timeframe that i follow is extremely overbought here. So if there was ever a reason to turn at a 1.618, instead of a 2.618, that would be it... also my stop (81.06) would protect me...

Yes KB. I see that you showed it. Talk about Karma ... look at the time of our posts. What are the odds of that?

eco #s in 2 min

lol..... Hope this works out as i feel the es has 10 handles to go today, and crude usually follows es