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TFC Commodity Trading Forum

Re: WTF moment in Oil - S.Bear/Haligonian *PIC*

Well from what I'm looking at as long as USO holds above $40 on the close it is bullish and healthy and a buy point. Nice classic breakout of a bullish Ascending Triangle and then another classic pullback to the breakout point to $40. All we need now for an old fashioned conservative buy signal is a break back above the short downtrendline of the pullback. Meanwhile I do wish I hadn't have spooked at the break "intraday" of $40 support. But then it doesn't take much anymore either. Anything is possible nowadays as I posted before. Don't want to be trying to pick up pennies in front of the steam roller. I'll wait for the break above the short downtrendline for the more conservative buy point. Note the April Crude line chart in blue overlaid tracks USO closely. Also note the 20ema crossed above the 50ema back in Oct during the weak seasonal period and has stayed above ever since which is bullish when a commodity is strong in its seasonal weak time frame. Also note now well the CCI 20 indicator works when tagging -200 and then showing a postive divergence on a lower price low as marked by the vertical dashed lines. I'm very impressed with the CCI 20 as an indicator for a variety of reasons. Now back to my printer/scanner problems.Yes this wireless/USB Wired thingy has become a major P.I.T.A. Made some changes with the Cable company that is "supposed to be better" but getting expensive with new Network Cards needed for 2 computers and my old printer wont work anymore so bought a new one. Time to take it all to the range and kill it I think.......................................