August 12, 2013

CRUDE Oil Support and Resistance levels

  • Crude oil hour chart pausing at golden ratio.
  • 4 Hour cloud too is acting as resistance.
  • Support in hour chart is seen at the rising support line and 100 Hour SMA.

1 comment:

  1. This is one of my oldies but goodies.

    Methinks that complacent longs stand a good chance of getting a 6% to 8% down move in the next few days to few weeks.

    The Bond indicator is on the bottom.

    The red lines indicate a "bottom" on the indicator, and most often a subsequent down move on the index (using SPX here)

    The green lines are for tops on the Bond Indicator, which often immediately starts a up move on the SPX index. Check it out.

    Additionally, I have found that multiple deeper bottoms form an "Egg Formation". And when the last dip into the egg is parabolic down, that often signals a large up move. The best dips down are a sharp stab into the egg. i.e. a blowoff bottom of sorts.

    Drop a comment, how do you like this indicator?