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CaptainGrumpy

4,594 Posts.

177

17/12/15

08:03

Post #: 16631749
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Originally posted by Orwell ↑

Some good points there Captain. thanks, I'll watch that $40-$60 range - makes sense.

Just glanced at DLS chart. It does seem to trend very well, i.e. goes on good runs in each direction, so if you can pick the turns it'd be a nice one to trade. Haven't done any work on it though.

RRL gave a nice entry last week when that bar closed green. It then got enough of a push to take it above that $2.20. but it left a gap and hasn't cleared away from the level yet, which is a little nervy. The trend is up and looks good but is has to hold above $2.20. If the break through fails this week or next could look ominous. These breaks of significant levels are done with momentum so it needs to keep going and clear away properly if it's genuine.

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well, have to say that was not as dovish as I was expecting. Go out on a limb here and say markets and gold will reverse their gains in the coming days as reality sets in. I actually think oil got it right...unfortunately.
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