LONG TERM OUTLOOK
Clear Long Term UT Still In Play With No Indication Of Trend Weakness
PA Above 20, 50 & 200 MA
*Preferred Long Term Buy Opportunity Would Be A Retracement To Key 1.95 Monthly Support & Buy The Rejection*
DAILY OUTLOOK
Head & Shoulders Pattern Formed Indicating Weakness In Daily Up Trend
PA Has Broken Bullish Structure Breaking Below TL, Retracing Back Up & Being Rejected As Resistance Respected
PA Has Broken & Closed Through Key Daily Support At 2.00
Price Has Been Rejected From 50 MA
PA Still Above 200 MA Support My Bullish Long Term Bias (Weekly Set Up)
*Preferred Buy Opportunity Would Be A Rejection & Daily Bearish Close Below 2.00 Support Now Being Tested As Resistance*
INTRADAY OUTLOOK
Momentum Seems To The Bearish Side (3 Key Lower Highs Made)
Price Current Testing 200 MA
Price Above 20, 50 MA
Key 2.00 Daily Support Has Been Closed Above
*Preferred Buy Op Would Be A Daily Close Above 2.00 Support & An Intraday Close Above Downward Intraday TL*
*Preferred Sell Op Would Be A Daily Close Below 2.00 Support & An Intraday Close Below Upward Intraday TL*
OIL OUTLOOK
Oil Seems To Be Within A Rectangular Range, A Break Out May Give Further Indication Of Where The CAD Is Going (Positive Correlation Shared)
Clear Long Term UT Still In Play With No Indication Of Trend Weakness
PA Above 20, 50 & 200 MA
*Preferred Long Term Buy Opportunity Would Be A Retracement To Key 1.95 Monthly Support & Buy The Rejection*
Head & Shoulders Pattern Formed Indicating Weakness In Daily Up Trend
PA Has Broken Bullish Structure Breaking Below TL, Retracing Back Up & Being Rejected As Resistance Respected
PA Has Broken & Closed Through Key Daily Support At 2.00
Price Has Been Rejected From 50 MA
PA Still Above 200 MA Support My Bullish Long Term Bias (Weekly Set Up)
*Preferred Buy Opportunity Would Be A Rejection & Daily Bearish Close Below 2.00 Support Now Being Tested As Resistance*
Momentum Seems To The Bearish Side (3 Key Lower Highs Made)
Price Current Testing 200 MA
Price Above 20, 50 MA
Key 2.00 Daily Support Has Been Closed Above
*Preferred Buy Op Would Be A Daily Close Above 2.00 Support & An Intraday Close Above Downward Intraday TL*
*Preferred Sell Op Would Be A Daily Close Below 2.00 Support & An Intraday Close Below Upward Intraday TL*
Oil Seems To Be Within A Rectangular Range, A Break Out May Give Further Indication Of Where The CAD Is Going (Positive Correlation Shared)