Thursday, September 17, 2009

oil

technically 72.4 is the bullish neckline and a close above it on the four hour chart is supposed to clear the way to 76 area and above
I think the dollar will have something to say about that as a bounce in the greenback
is bearish concern for Oil. We ranged overnight for all the scalpers out there
joblessness is a opaque number and housing starts in line
This is not being received well by the futures and perhaps the recent run up has given buyers pause here I have to buy dips again
if the dollar screams i will repost because that will alter today's calculations
moving to the november contract 72.4 is trend line support
buy 71.75 november

i will post when close to reaffirm email me if you have any questions

We stay in October in GAS
the inventory EIA should tell the story 10:30 ish
below 3.7 should kick start the selling dips should be bought unless inventory blows out expectations I will again post and let you now my take o the report