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Buxton ND | That was a nice move in crude, strong day higher all around. I quick scanned twitter and not one comment about crude. Bullish sentiment is very low, very over sold.
Its been in a down trend for over a year, will one day chance my mind ? No,,, V-bottoms are very rare in whatever market. It poked its head above the 18 day MA but closed just below it, that's a prefect place to snap the bull trap. A V-bottom would be if it trades steady higher say to 50 bucks and form a V on the chart.
NOW if it would have made a key reversal bottom, new all time low, trades higher and closes above the prior days low, then it would be worth chasing and I'd by dis-appointed I did not put that order in @ 39.97
On a side note, DOW had a OK rebound today, filled the gap from Sunday,,, just a wild WTF 17kish looks like a sell. Never been much of a stock market guy so that's NOT on my bucket list someone else can play with that. | |
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Crude!!!
