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Strategies & Market Trends : Humble1 and Swing Trading Friends
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To: John Pitera who wrote (24957)12/16/2016 2:00:43 PM
From: Runomo™  Read Replies (1) of 41021
 
What crude needs to do is a monthly close above the long term blue colored trendline shown below. It is currently just above it with two trading weeks left in the month.
however the technical action so far is looking good IMO because the breakdown last year
from a well tested easy sloping long in duration trendline should have put the final nail in the
death spiral coffin. Instead we have a return back and a potential recapture, on humongous volume, to the area of the long term breakdown implying whatever happened over the past year plus was most likely a false move coupled with dire negative sentiment "death spiral talk".
Technically false moves get reversed strongly once they have confirmed.





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