November 20, 2011

  • Crude Oil Weekly chart shows a bearish candlestick at the broken channel's support line which is expected to act as stiff resistance. 
  • Trend line shown in 4 Hour chart has broken. Staying below 97 and 94 will be bearish for crude oil in the short term.

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My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore