June 20, 2016

  • Crude oil 50 Chart trying to stay above 50 Day SMA. Weakness returns only if price closes below 50 SMA.
  • Weekly chart shows a contraction between the upper resistance zone of 50 - 51 and the rising support line. This contraction should lead to a bigger move soon.
  • 4 Hour chart shows possible resistance zone.


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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