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Looks like it got over the highs. I guess this just shows how different entry methods have different outcomes. Getting in at the close will give you a better price, but more stops outs. Since we are going against the trend, I wait for confirmation. Now we have to wait and see if this move above the highs is a true move or a head fake. If its a true move I will wait for a test of this new support, if its a head fake I will be looking for a pattern to sell.
Also, something interesting to note is that neither Heating Oil or Natural Gas has taken out the highs. They might do it in the next couple days, but just something else to watch to try and put the pieces of puzzle together.
Last edited by trader273; 04-16-2008 at 08:25 AM.
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