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« Bounce or Break DJUSEN | Main | Welcome to the New Pikertrader »
Thursday
Nov192009

Black Tea

Oil has been very interesting lately, it has been consoldiating between the $80 and $77 after it's run up from $72.  Oil is now forming a flagging pattern that could potential break out sending it to $92.  Right now it is hard to predict where oil will go, indicators are netural and the price action has consoldiated.  Putting money on either direction is a gamble, wait for a break out of $81 or a break down of $77.  Which way oil goes could predict where the market moves as well. 

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