Post breach of 108.50 CL.. clearly the buyer is determined.. how determined.. time will tell.. just keep eyes on the lines and dont try to out smart it.
1 hour CL
As you can see from the chart above .. the yellow dotted line has held from 2/7/2012 until the brief blip under today.. The blip today similar to the blip on 2/10/2012…. I mentioned on twitter it is interesting when technicals align in many different products and then the pattern are pushed to their breaking points….all to test the pervious pattern/trend resilience..
The push was …Crude breaking down below the 2.5 week up trend in the same instant as ES and NQ broke down off open.. Crude found a solid bid before ES and NQ.. gave confidence in a equities bounce.