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Old 03-27-2008, 08:35 AM
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Re: Crude Oil March 20

Also what is interesting is how Natural Gas, Heating Oil, and Crude Oil all produced similar candle patterns. I do not want to say exact since I did not run exact numbers, so I do not know if the upper shadow on one market was 1 tick higher than what is allowed. But IMHO, they all produced the same formation. However, it is interesting that only crude made it back to support. Since crude is the market we are trading in, I think it is ok that heating oil and nat gas didn't make it back to support. Since these other markets produced similar candle formations, it reinforces the crude oil trade. This is very simple analysis. No need for other stuff clogging up your screen. However, people confuse simple with easy. Not easy at all. It is hard to believe that simple analysis can work and is very powerful. I think that is why people come up with all these crazy ways of seeing the market.

Chart:

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