UWTI trend line breached…next stop blue line…
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=1313997,1&cmd=show[s410189484],iday[false]&disp=G
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=1313997,1&cmd=show[s410189484],iday[false]&disp=G
I noticed it formed another bear wedge this morning which wasn’t good going into an EIA report. It’s getting awfully complicated, but maybe that’s the sort of thing Dan was getting at with his recent advice to traders. Funny thing is, the MACD crossed up at the same time. On my chart the breakout line is holding as support although it broke down during the night. There just isn’t any clear indication anymore. I cashed out at 3.59 which gave me about a 12% gain. The breakout line support is being tested again, I see (11am).