A NEW LOOK AT CRUDE OIL
PRICE ACTION IS UP ON BOTH THE WEEKLY AND THE DAILY, WEEKLY MACD MOMENTUM IS UP, HOWEVER WE ARE ON THE 9TH WAVE IN THE WEEKLY TREND WHICH IS CONSIDERED TO BE "EXTENDED"... WE DONT LIKE TO TAKE ENTRIES LONG ON AN "EXTENDED" TREND... WE ONLY TAKE ENTRIES AT THE BEGINNING OF TRENDS. SO I WILL HAVE TO STAY NEUTRAL ON THIS UNTIL WE BREAK DOWN PAST THE TRENDLINE IN ORDER TO CONSIDER GOING SHORT.
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