GREY:LSTMF - Post by User
Comment by
bullcharton Nov 21, 2014 8:52am
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Post# 23151214
RE:RE:Is the oil crisis over?
RE:RE:Is the oil crisis over?Greenpasture, funny you should mention that. I was just going over the history of this one given past "overkills". This old PetroBakken came out of the gate at 35.00 Oct 8, 2009 and dropped to 6.05 Sept 30, 2011 without much relief on the way down. (only recovered to 17.45 Mar 2012.. not quite a 50% recovery) That 6.00 area seems to carry through right into 2014 until this breakdown to the recent low.
My down trends from 2012 high have to crossing with possible upmoves. At or before Jan 21 of 5.13 and at or before Mar 11 at 6.32. I am keeping in mind that 6.00 area based on value, trends, past moves etc. This volume from 5.54 to present is so far matching the volume recovery Oct-Mar 2012. There were 3 nice up moves since 2011 and I suspect this will prove to be the 4th. The past moves and history says to forget the 9.09 Jun 20 high as a possible reach. If proven wrong and this goes back to 17.00 by the end of 2015, I promise I will retire from playing this game. For those that rely on just fundamentals and hate t/a, I understand where you are coming from. I used to be there.
Hope that helps.