Thursday, February 23, 2012

Post breach of 107 CL 1hour Look -

1 hour CL 
Post breach of 108.50 CL.. clearly the buyer is determined.. how determined.. time will tell.. just keep eyes on the lines and dont try to out smart it.

1 hour CL 
As you can see from the chart above .. the yellow dotted line has held from 2/7/2012 until the brief blip under today.. The blip today similar to the blip on 2/10/2012.... I mentioned on twitter it is interesting when technicals align in many different products and then the pattern are pushed to their breaking points....all to test the pervious pattern/trend resilience.. 

The push was ...Crude breaking down below the 2.5 week up trend in the same instant as ES and NQ broke down off open.. Crude found a solid bid before ES and NQ.. gave confidence in a equities bounce.