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TFC Commodity Trading Forum

Re: Dec Crude/Crawling up to Resistance/S.Bear *PIC*

Here is the SCO Ultra Bear Crude you've mentioned. Would be nice to see it drop back to 50 or 49 for a buy. See how all the major moving averages are coming in tight to each other. That tends to see price make a big move after. Just look at last Sept/10 when it did the same thing. There is a name for it but I forget what it is. But when the major moving averages all come together a big move tends to occur shortly after. Looks like a bullish falling Wedge now since the breakout in early August. A tag of 50 or breakout over that one month downtrendline might be a nice trade.