Monday, April 23, 2012

June Brent, WTI & Natgas

At this time I am selling rallies in Brent and buying dips in WTI crude

Brent daily chart
Bearish harmonic pattern, below the 120 triple top level of last summers highs is  bearish.  Next support 115 & 113.80
Brent weekly chart
I know some people will look at this and laugh.  I will just say open your mind to the possibility ...

CL - WTI crude hourly
This 102-102.30 pretty nice pivot to buy off (probably tomorrow for me now) now we have taken out the stops below last weeks low.  Holding below here sets up a retest of 100.80 for sure. I'm OK with being wrong.

Natgas Daily chart
Bullish reversal candle but holding below $2.00 round number and no trend change yet. Taking out last weeks high at 2.016 might be a setup for the very brave to then buy the next dip for a run to 2.208.



3 comments:

  1. Don't worry, petrol prices in UK won't go down

    ReplyDelete
  2. Was shock and surprise at your return.

    ReplyDelete