crude oil futures trade idea – cullen outlook – formation finder
This is a sample of Brian’s email newsletter, The Cullen Outlook.
This is from the Formation Finder portion from Friday, August 19th.
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October CRUDE OIL:
(GCLV6 standard, QMV6 mini)
What an amazing bounce (and impressive run) off the $40.00 level. Now at $49.00, there was some interesting price action that led to this DOJI formation today.
For those not familiar…
- This is a trend reversal signal
- Opening price & closing price are basically the same
- Price is unchanged
- Looks like a cross
- This formation signifies that the market is unsure of what is next
- Could be a bullish reversal signal if market is in a downtrend or a bearish reversal signal if occurs in an uptrend
This is a Long-Legged DOJI which means that there was attempted movements in both directions but the end result was the same…unchanged on the day.
Upon the Sunday night open and into Monday morning, if this market starts to make a move lower, let’s get involved!
Check out the Crude Oil chart…
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