Re: August Crude/ Still in its Channel/STR

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In Response To: Re: August Crude/ Still in its Channel ()

No I don't like the look of the potential to the downside on Crude even with the breakdown. Looks like the horse is out of the barn and long gone. Price on the Double bear Crude ETF:SCO has retraced a Fib 61.8% of its selloff already and with very weak technicals showing strong negative divergences on this recent rally of the bear ETFs. The double bear Crude ETF:DTO same thing. Probably more to go but it looks like the best part of the Crude selloff is in and is getting just to obvious for my liking. I hate being late to the party even if it is a good one.