Sunday, July 31, 2011

Crude Oil (CL) Uptrend held? 7/31

To the left is a 4 hour chart of crude oil. Over the last couple weeks we have been in a pretty slow grinding up trend, with higher highs and higher lows for the most part. After spending more than the average amount of time hovering around 100$ a barrel, we then saw a larger than average sell off. It appears though that we have held the previous low to this point. We can also see divergence with the MACD average in the long term (shown by the purple lines) and the histogram in the short term (shown by the yellow lines). We also saw a lot of volume stepping in when we reached the 50% retracement of this recent uptrend shown in green. I think this is going to be a good spot to buy to try to get back to 100$ a barrel.


  1. U guys still running this blog or taking some time off? Looks like gold might be rolling over hey? whats your take?

  2. not one update in august :(

    technicals on the following would be much appreciated.