RE:RE:Since we're all playing on the tracks.. A note on WTI - $66?It's hard to tell sometimes if you're trolling or not. I would agree that I'm interested to see if oil would hold at that support as well. We are in an oversold territory for sure both on BTE and WTI. But the downside and the length of that oversold territory is really unknown. So I tend to view time as a commoditiy itself because as more time goes by the more information we can get, the more confident we can act.
I want to see how the market opens and the price action. I may do nothing. I may sell. I may buy. I really don't see why that approach seems silly to others here. What does it matter what I do? And that is simply the life of someone who likes to trade.
[/quote] that $76 support level, is my buy area. I want to see if it holds. If it does, then I will buy a chunk of shares.
masfortuna wrote: Snowballer wrote: Oil blew through $82 support and is approaching $77/$76 support
$77/$76 would form a double bottome support (1st hit September 27th) and why I suspect it would be the worst case. BUTTTT...
The descending widening wedge I've been talking about and following this entire time has the bottom trendline point at $66ish WTI
JUST FYI incase you guys don't want to get hit by a train which may or may not come, but I definitely try to make out the train schedule as much as I can. hahaha
that $76 support level, is my buy area. I want to see if it holds. If it does, then I will buy a chunk of shares.