Posted 10/21/2014 22:20 (#4139070 - in reply to #4138840) Subject: RE:Is this a job for the chart readers?
Heck-12-Ill take a shot at it-Long term view here-10 year monthly continuous below-I see 2 main things here-1 Were about to close this month below the 2012 reaction low=Further confirmation of the bear that started in 08-We just need steady to lower market action for rest of month for that lower close -2-The extreme volatility contraction=Abnormally small trading range of the bars painted Nov 13 thru May 14-Market coiling up its energy-First release of energy was the upside breakout in the June bar-That failed and resulted in energetic action-To the downside-Classic market action here-Bottom line-The great 2008 bear in HO is alive and well-Especially given the fact that Crude is crash and burn and NG appears to be starting its collapse as well
Edited by Fishguts2 10/21/2014 22:23
(10 year HO.png)
Attachments ---------------- 10 year HO.png (90KB - 725 downloads)
Fuel price speculation.
