20051129 Three black candlesticks point to possibility of a rise today. Trend is down however, with CCI momentum supporting downside continuation.

Crude Oil futures chart

2005128 On a ZLR ell signal (CCI), continuing the downtrend after retrace to the upper wedge line. 

Crude Oil futures chart

2005124 Daily chart, reaching up towards upper channel line. 

Crude Oil futures chart

20051122 Rebound, amost reaching the upper channel line now. 

Crude Oil futures chart

20051121 The expected rebound from short covering, finall might make way to upper channel line. 

Crude Oil futures chart

20051118 Sideways action, still waiting or the rebound. 

Crude Oil futures chart

20051116 Some short covering at last brings crude oil back up, targeting moving averages and ultimately upper wedge line. 

Crude Oil futures chart

20051115 No follow through on the rebound on the lower wedge line. Stop out, looking for next opportunity to trade. 

Crude Oil futures chart

20051114 Starting the rebound, confirmed by price action, test of upper channel line or moving averages as targets. 

Crude Oil futures chart

20051111 The wedge pattern is still forming. 

Crude Oil futures chart

20051110 6 month chart. The descending wedge pattern point to rebound possible, maybe on 11/11/05 on profit taking short covering. 

Crude Oil futures chart

20051110 Still downtrend, but looking for rebound to the moving averages. 

Crude Oil futures chart

20051108 Pattern building up support, for the anticipated bounce up to the moving averages, for the short. 

Crude Oil futures chart

20051107 Downtrend continues. But there could be a chance of a rebound to the moving averages soon, with the chart pattern forming. An acceleration to the downside, would preclude this. 

Crude Oil futures chart

20051103 Short covering came in as expected. The rise in the USD helped in this regard. 

Crude Oil futures chart

20051002 Sideways action today, buiding up for the short covering. 

Crude Oil futures chart

20051101 Downtrend in place. I suspect there will be a short covering rally soon to squeeze some shorts, but resistance from stale bulls could cap moves up. 

Crude Oil futures chart