20051031 Crude Oil futures close below US60, confirming the weakening bear trend. As usual, the analyst (few posts ago) was off the mark, or more likely trying to shore up the stale bull positions with talk. Looking for rallies to short. The market seems immune to so called 'supply shocks' like the news today on the strike by the Shell refinery workers in Europe. 

Crude Oil futures chart

20051028 Two ID in a row-points to a breakout either side of today's high and low. 

Crude Oil futures chart

20051027 Sideways action as expected The stale bulls still trying to talk the crude oil up. 

Crude Oil futures chart

20051026 Higher high made, but closed down. Consolidation may set in for sideways move. 

Crude Oil futures chart

20051025 Upside move off the breakout of the ID pattern yesterday. 

Crude Oil futures chart

20051024 An ID pattern today, indicating the possibility of a breakout trade if either the high or the low are taken out today. 

Crude Oil futures chart

20051021 New low made today, but short covering brings price up ahead of weekend. Waiting for next opportunity to short for position trade. 

Crude Oil futures chart

20051020 Downtrend makes new lows, confirming the downtrend. Looking for next opportunity to short. 

Crude Oil futures chart

20051019 Downtrend continues, despite the stale bulls trying to scare traders with hurricane fears past week. 

Crude Oil futures chart

20051018 An Inside day (ID) pattern appears today, setting up a breakout trade either side today. 

Crude Oil futures chart

20051017 Weather again. Tropical storm Wilma moving into the Gulf, stale bulls hype up the effects. Once again the technicals are screwed by the weather. 

Crude Oil futures chart

20051014 Downtrend continues, thugh the candestick shows some buying support. Have to see if the market can test below US60 per barrel. 

Crude Oil futures chart

20051013 Expected downtrend resumption, could be trying below 60 next week. 

Crude Oil futures chart

2005012 65.14 is the resistance, would be a good level to take shorts against for continuation of the downtrend after this corrective move up. 

Crude Oil futures chart

20051011 Upside breakout of the consolidation range, as we suspected, a strong rally unsued. 

Crude Oil futures chart

20051010 Found support around 62 level, with sideways movement, waiting for next signal, which could be a breakout of this range, though the ID is not too clear cut. 

Crude Oil futures chart

20051007 An Inside Day ID pattern, could be indicating potential for breakout. 

Crude Oil futures chart

20051006 Downtrend in place, a good point to short would be around 65.50-66 level, the symmetry resistance point. 

Crude Oil futures chart

20051005 Further selling, despite the 'super spikers' who still anticipated the inventory data to fully reflect the depletion of stocks from the hurricane disasters. So looks like long liquidation from those 'supre spikers'. 

Crude Oil futures chart

20051004 3rd day down, so today could be an opportunity to long for the swing trade back up. 

Crude Oil futures chart

20051003 If today is 3rd day where close lower than the open, will set up a buying day opportunity, best if stays above the moving averages for closing. 

Crude Oil futures chart