March 31, 2016

  • Crude oil month chart is trying to form a bullish formation. February Month candle confirmed a pause in selling as price came back to close near the candle high's. March Month though is closing well off the High's which is a worry for Crude bulls.
  • Weekly chart is trying to form a Pin Bar Kind of reversal formation pending confirmation from current week. Bears need current week candle to close near the lows to extend bearishness in to the coming week.
  • Daily chart continues to stay below 200 Day SMA which is a big worry for Crude bulls.


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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