Energy Investing - Idiots 24 week WTIC daily chart - before I get too excited - Energy Investing - InvestorVillage


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Msg  533288 of 550898  at  11/20/2023 9:10:10 AM  by

Petroeng


Idiots 24 week WTIC daily chart - before I get too excited

 This chart really brings me back to earth on energy equities.  There are four really important circles on this chart the last two circles on both the RSI and CMF, which line up nearly perfectly.   The two blue circles are crossovers too uptrends, and the two (last) circles on the CMF and RSI are red and predicted the downtrends.  Both the RSI and CMF are nowhere near the crossover point and are as bad as they can get.  Sentiment is not good in this space, and selling occurs at every opportunity.  
 
The short-term positive is the support level that we may be bouncing off.  I'm an idiot so I'm front running the market playing that possibility of a short-term bounce to $81.50.   
 
 


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