20050930 Sideways action, the expected breakout did not eventuate, but could well come on Monday. 

Crude Oil futures chart

20050929 An ID pattern on the candlestick today. Could be prelude to breakout either side. 

Crude Oil futures chart

20050929 Above the mov avgs, but still contained within range. 

Crude Oil futures chart

20050928 Moved above the moving averaes, but still contained within the range bound trade. 

Crude Oil futures chart

20050927 Crude Oil now trapped within moving averages, could be some sideways grind ahead. If anything there could be downside move coming, watching CCI for signs of momentum movement to downside. 

Crude Oil futures chart

20050926 Gap down and rebounded from the opening. Negated the setup we were looking for. This is a classic 80-20 setup though for a long on take out of the previous day's low. 

Crude Oil futures chart

20050923 Big black candlestick indicate long liquidation, probably by the "Buy of the centurry because crude oil supply running out" type of emotional traders. 2nd bar down, breaking decisivel through 2 moving average support levels. If the next candle closes lower than open, can anticipate to long on the day after. 

Crude Oil futures chart

20050922 Sideways action, despite fears on hurricane Rita hitting oil infrastructure in Texas. Pattern looks like forming a sideways pennant for the breakout soon. 

Crude Oil futures chart

20050921 CCI continues to move above zero line, support provided by the moving averages. Not much idea of trade, waiting for clear signal. 

Crude Oil futures chart

20050920 

Crude Oil futures chart

20050916 CCI shows a ZLR sell signal on the downside. Crude oil is resting near moving average support. We'll see if the support holds but chances could be for continued move down. 

Crude Oil futures chart

20050915 Waiting for next signal. 

Crude Oil futures chart

20050914 Got the bounce off the moving average. The pattern of 3 down followed by 1 up (close vs open) continues to play out nicely.  

Crude Oil futures chart

20050913 Third day down, with an ID pattern forming, indications for breakout either side, which looks likely to be upside break. 

Crude Oil futures chart

20050912 Further downside today, moving down to test the moving average support. If today ends down, will be the 3rd day closing below the open, paving the way for an up day. 

Crude Oil futures chart

20050909 Long at 64 triggered the previous day, went to above 65. Depending on trade management and profit targets, might well have locked in gains. But CCI is still below zero, indicating not much upside momentum. 

Crude Oil futures chart

20050908 The market exhibited the usual character with 3 days down followed by up da today. Shots from double ID and Turtle soup +1 covered, now long at 64 on the buy stop. 

Crude Oil futures chart

20050907 The short positions doing ok now. Three days in a row down. A moving average level here holds the market at 64.00. Might wait for a move to about 0.25-0.30 below 64.00 then put in a stop to cover shorts at 64.00 and turn long for a swing trade back up. CCI though broke support and staying below zero, indicating possibility of accelerating downside momentum. 

Crude Oil futures chart

20050906 Turtle Soup +1 reversal short and the double ID shorts doing ok now. Moving averages now provide resistance. 

Crude Oil futures chart

20050902 Break to downside, off the double ID. Turtle soup +1 short swing trade is now doing ok. Will have to see what happens next week, but stops tightened. 

Crude Oil futures chart

20050901 Stop on Turtle soup +1 short still intact. Exhibiting a double ID (Inside Day) which signals possible strong breakout either side. 

Crude Oil futures chart