Crude Oil WTI - CLZ2014 - 7th Day of 12 Day Sell Signal
Even though there are signs of an attempted bottom:
1. CCI crossed up from -100.
2. Range expansion, Up-Day on Wednesday
There is still a downtrend in force:
1. 7th day of a 12-day "time at mode" sell signal.
2. Range Movement (RgMov) proprietary trend calculator shows downtrend.
3. Range expansion resistance at 79.50 and 80.35 (blue lines on chart)
4. The trend hit the downside target in just 3 days from the 85-79 ($6 box) labeled in yellow, which shows a compliant market that easily goes along with the trend.
What is interesting is that this downtrend shot right out of what looked to be a bottom in and around the $80-$82 area last month.
That's your update for Day 7.
Tim 11/10/2014 1:54PM EST
1. CCI crossed up from -100.
2. Range expansion, Up-Day on Wednesday
There is still a downtrend in force:
1. 7th day of a 12-day "time at mode" sell signal.
2. Range Movement (RgMov) proprietary trend calculator shows downtrend.
3. Range expansion resistance at 79.50 and 80.35 (blue lines on chart)
4. The trend hit the downside target in just 3 days from the 85-79 ($6 box) labeled in yellow, which shows a compliant market that easily goes along with the trend.
What is interesting is that this downtrend shot right out of what looked to be a bottom in and around the $80-$82 area last month.
That's your update for Day 7.
Tim 11/10/2014 1:54PM EST
Subscribe to my indicator package KEY HIDDEN LEVELS $10/mo or $100/year and join me in the trading room KEY HIDDEN LEVELS here at TradingView.com
