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