Crude Oil Weakness Ahead Means Rally for Macroshares Oil Inverted
Commodities / Oil Companies Mar 14, 2008 - 01:32 PM GMTBy: Mike_Paulenoff
At the very least, my near-term work in the MACROshares Oil Down Tradeable Shares (AMEX: DCR) is warning me that the Jan-Mar decline from near 15.00 to 8.00 is complete, and that a recovery rally period has started that should carry to a minimum of 10.00/30. Only a resumption of weakness that violates 8.00 will invalidate my current outlook, which will imply that crude oil prices are roaring again.
Sign up for a free 15-day trial to Mike's ETF Trading Diary today.
By Mike Paulenoff
Mike Paulenoff is author of the MPTrader.com (www.mptrader.com) , a real-time diary of Mike Paulenoff's trading ideas and technical chart analysis of Exchange Traded Funds (ETFs) that track equity indices, metals, energy commodities, currencies, Treasuries, and other markets. It is for traders with a 3-30 day time horizon, who use the service for guidance on both specific trades as well as general market direction
© 2002-2008 MPTrader.com, an AdviceTrade publication. All rights reserved. Any publication, distribution, retransmission or reproduction of information or data contained on this Web site without written consent from MPTrader is prohibited. See our disclaimer.
Mike Paulenoff Archive |
© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.
