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TFC Commodity Trading Forum

Re: Dec Crude/Crawling to Resistance/S.Bear/Lee *PIC*

"Someday I may figure out how you saw that one coming !!!! "

It was the weight of the technical evidence nolthing more. Note the downtrendline. Also see the RSI 21 cross below the 50 line in early May and stay below. The 20ema and 50ema are falling like train tracks going down hill which is bearish. Always look for that to occur with the 20ema below the 50ema. And in August see all 3 moving averages in bear territory with the falling 20ema below the falling 50ema which is below the falling 200ema. That is a bear just like NG. And see price break important support of 92 in August. Then after price sold off hard see the very bearish Rising Wedge pattern develop from the August lows. Everything about this chart is bearish. Would have been nicer had price run all the way up to 92 for a 'best price' short. But like I said yesterday now that it knows I'm watching it would likely breakdown from the pattern rather than run up to 92. And a gap would be likely. That is exactly what it did as it knew I was waiting for it with my sniper rifle.