20080630 The crude oil market is gearing for a test of the upper trend line. We favour the view to let the price close above the trendline, and waiting for the close below that to take short positions. Will a blow off top happen? It might well, so be conservative and short on closes below the trendline after the penetration.

Crude Oil futures chart

20080620 No close below 132 no short position indicated for the crude oil futures.

Crude Oil futures chart

20080620 Crude Oil futures are consolidating in a box pattern. If it closes below 132, indications is for shorting for the bigger move down equal to the height of the box.

Crude Oil futures chart

20080611 OK, shorts turned out pretty good. So much for the bull speculators irrational exuberance on crude oil futures. The pattern developing right now is a possible Bullish 3 pattern. If today's price cancle ends up down, might indicate a possible buy signal.

Crude Oil futures chart

20080609 It is time to take advantage of the speculators insanity to buy the highs. Sell orders at Friday's highs are in. When the same people who thought up the CDO causing the mess in the sub prime industry speaks of super spikes in Oil, don't believe them now, believe them only in 3 months time.

Crude Oil futures chart

20080605 Well, we are almost there to the target of US121 per barrel of crude oil futures. Wondering how the silly bull who bought the high print of >134 (due to overexuberance) per barrel is feeling now, sitting on losses and having to pay higher prices for petrol/gasoline.

Crude Oil futures chart

20080603 Well, we are almost to the target of US121 per barrel of Light Sweet Crude Oil futures. So much for the over exuberant "It's going to the moon" bulls. However, this is the corrective phase in reality for the bull market, but just can't resist the stab at the raging bulls. There is more than one way to trade volative markets, rather than just be long only.

Crude Oil futures chart