Chart 1: WTIC's daily chart as at 6/8/2009 (Source: Stockcharts.com)
Friday, August 07, 2009
WTIC- ready for an upside breakout?
Crude Oil reversed from a short-term downtrend (see the pink H1-L1-H2-L2-H3) to a short-term uptrend (see the blue L1-H1-L2-H2). A break above the slanting horizontal line, with resistance at USD72.50 could signal the continuation of the prior uptrend which commenced in December last year. However the market is in a state of indecision as seen by the presence of 'dojis' over the past 4 trading days. WTIC may put in a minor correction before further attempt at the USD72.50 level. If this correction happened, WTIC may pull back to the 50-day SMA line at USD67.50. Then, the entire price consolidation from early June would look like an inverted Head-&-Shoulder, with the slanting horizontal line as its neckline.
Chart 1: WTIC's daily chart as at 6/8/2009 (Source: Stockcharts.com)
Chart 1: WTIC's daily chart as at 6/8/2009 (Source: Stockcharts.com)
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3 comments:
Hi, Alex, I am long time silence reader about 3 years and learned
a lot from your post. In fact,
I am making money from the stock
you recommended and I also learn
how to pick the stock base in FA as well as TA.
I am very interesting in Put Warrant HKSE to be issued by AMinvest coming monday but I don't understand how put warrant
working? Hopefully your may post some article regarding the put option. Hope u have a great weekend. TQ.
Hi, Alex, may i know how to calculate the premiun and geaing for HKEX-H1
Hi guys,
I have just posted something on Put Warrant computation today. I thought a post would be a better than a comment for something important & new to our market.
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