For those interested in oil, I have an updated chart with my weekly Gann work on it. The last post here detailed the resistance we were comming into after rotating up from below. Since pulling back off that resistance we have moved to rechallenge it and once again failed for now to break thru it. Oil will not make a significant move until it breaches this important Gann angle. Until that point we most likely will see range activity between that angle and the one below.
Good Trading
Craig
Craig, it looks like your resistance area has been broken through. Now what? Dollar however is on the verge of a type 2 buy. Would appreciate your comment.
Posted by: david | August 09, 2009 at 02:47 PM