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Momentum Trading with RaginCajun

RaginCajun
Joined Jan 27, 2008
7,405 Blog Posts

Another Look At Oil

RaginCajun Tue Jul 19, 2016 11:50pm EST 3 Comments

I was out for most of the day today, but did receive a question from one of my readers. He wanted to know my take on oil here.

Screen Shot 2016-07-19 at 10.36.41 PM_

Above is a 4 hour chart for crude oil dating back to Mid April. If prices can trade back above $47, this could be the beginning of a possible breakout in prices. Under $45-44, and I would look to cut exposure to oil.

It could go either way, but we should know soon which way it will break.

I’m still going through some charts as I catch up my day, here’s a look at Tuesday’s hybrid movers: CLICK HERE FOR CHARTS

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3 comments

  1. Heckler511
    Heckler511
    July 20, 2016 at 10:21 am

    I’m in on the oily dice roll – will be a fine day if oil decides to play along

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