- Cannot understand why crude is not much higher given fears of safety of nuclear energy + Bahrain events. Guess is because of deflationary fears associated with Japan disaster.
- No matter. Logic is irrelevant. The charts tell the underlying story. It is not important to understand the underlying fundamentals.
- Monthly : Uptrend.
- Weekly : Currentt pull-back good for the long term health of the uptrend. 107.35 looks to be a good spike tail (ie rejected by market as being too cheap).
- Daily : Interpret as base building around 108. Buy dips.
- Trade : Gone tiny long Jul11 Brent at 111.13. Paying at a few levels down to 108.
3 comments:
Took profit LCON1 @ 113.13. Will look to re-enter long.
+13.32
-14.01.
Like the long trade but hedges put on today has brought margin utilization to uncomfortable levels.
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