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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (9909)	10/27/2014 7:37:33 PM
From: Andrew~	Read Replies (1) of 202709

Oil: Take a gander at the Brent chart (puns intended :D) and compare it to the CDNX both are similar. Actually you could probably pick any energy stock at random and it would likely be similar. Both had highs in mid June and were overbought on the daily and then both had the sharp drop off to lows in October and oversold. Both are bearish, perhaps a sideways short term trend but I wouldn't bank on it. The most bullish aspect is the MACD histogram and crossover and the fact that both have moved off stepping down the lower Bollinger Band. RSI, Vortex Indicator, %Williams are all bearish.

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