Natural Gas, Crude Oil, Etc...
7/13/2009 11:55:41 PM
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when crude does near 74 to near 58, it has to be called 'oversold'
we have til 7/21 to trade august contract, one more week
range 50.76 on 4/21 to 73.90 on 6/11
gives the 62% fib at 59.60
the 100MA is also in the area of todays low (58's)
Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term
if we can't bottom here, then some march highs in 55 area are next
8)
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7/14/2009 12:14:50 AM
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crude oil trying to stay over the 60 round number tonite
stocks bouncing and the euro as well, both items that crude oil like to follow
or we could say dollar down, everything else up
definitely if you can overlay a stock market chart with a crude oil chart, and can see they usually move together
8)
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