Browse Symbol Stacks: /CL: Daily Chart.png

Daily Chart.png

Comments

WonderboyWonderboy
Sorry that was my first ever social trade post, but just a slight explanation of my charting. I am a simple chartist. Currently have not found an edge in MA's and all that other fancy stuff. I like to keep my charts clean and easy and I view myself as a support/resistance, pattern trader. 
 
Basically blue = resistance, red = support.  
 
We are back in a nice channel. Each time we have hit the top of the channel, we often see a steep decline. If the upper channel is any indication of the lower, we could be seeing a break of the channel to the downside (assuming we still go down) either late this week, early next week. 
 
Also the above chart is a Daily. 1/18/15
moneymiser21moneymiser21
I like you secondary channel formation. I had not considered it before. 1/18/15