Only if it was that easy. U know, just shooting down in one direction without any retrace. However do I agree that overall we are in downtrend.

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Could the downtrend be over for today according to the chart? Who knows - time will tell.

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Does anybody know a good broker to start off trading oil with a practice account? I want to get the hang of it first as my current broker don't offer oil trading. Thanks

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Not always

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Seems like retracement is out of the question. It just keeps heading down, yet any position taken now is still too risky.

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If u don't mind me asking, I was curious to know where u took your profits since u have pick a very good entry point right at the top just before the drop?

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So did u take a long position?

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Strong Resistance at 4923 which is where the hourly 50 ema and the 4hr R1 is at. Hope it holds for further downside.

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This forum is one of a kind. First we have people shouting for longs..... and now it is quiet.

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New York? — Just curious. Anyone here thinks (or hope) that the bias will change to the downside once New York opens?

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The funny thing is I had an order to buy at 86 and now it took off.... That's been happening to me a lot lately!

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It's trying to penetrate through the trendline for the second time today. Maybe it'll succeed this time.

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Pls back up your statement with reasons? If MA's is all u need then a lot of people would of been successful by now..

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Thats a beautiful flower u got there for your avatar...

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???

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I'm taking my chances on the right shoulder. Mabe it'll try to get closes to S1 as possible. SL at BE

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To "emda", sorry didn't know u already posted the chart.

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Could this be possible? Just another view...

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It could also be "hair pulling" for some.

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