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Re: What's Up ??/Trades/Lee *PIC*
In Response To: What's Up ??/Trades ()

Been busy with other stuff. Don't like the look of much of anything long or short. Just no faith in what I'm seeing. Most everything is choppy sideways with DX, EC, GC,SI,PL. Gasoline is spinning its wheels at the recent highs of 3.38 area for the last few weeks trying to breakout. Price has cleared and held above it for 4 days now but major resistance of 3.47 being the April/11 high is just above the recent highs even if it does clear and hold. Lots of work for that commodity to breakout decisively. "IF" that does breakout it will have major consequences. I wouldn't be against it even if it is near major resistance. Gasoline is well over $5 per U.S. gal on the Canadian West Coast and looks like it will go higher. Compared to my old Jeep Grand Cherokee my Ford Fusion saves me $30 on each fill up comparatively to drive the same distance. That helps with the aggravation of it all if nothing else. May Crude broke below $104 support today. If that breakdown holds below along with the 6 month uptrendline breakdown Crude will be bearish once again. Price would then likely see $100 tested or even $96. And that would be considered a 'mild' correction. A typical 50% correction from the Oct low to March high would see price back at $94 support once again. That was also the Dec low. So watch to see if May Crude remains below $104 or was just a one day wonder breakdown that doesn't hold.

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What's Up ??/Trades
Re: What's Up ??/Trades/Lee *PIC*
Re: What's Up ??/Trades