Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Bullish Set-Up for Oil
Oil climbed 7% from yesterday’s low to high in reaction to the OPEC cutback news.
More importantly, perhaps, the overnight price action has been well-behaved, near the $47 area. This suggests that after Wednesday’s vertical upmove, oil is building a bull-flag digestion period prior to upside continuation towards a test of the Aug high at $48.75 — in route to a challenge of the June high at $51.67.
After just about every strategist and analyst took to the airwaves with an opinion about the OPEC deal and the prospects for Oil prices — that the deal will fail, and that prices will reverse — it is very impressive technically that oil is perched just off of yesterday’s highs.
Swing Trading GPRE, MA, WYNN, DOW, CAA
DB: From Riches to Rags in 9 Years
From an all-time high of 103.14 in May of 2007 to an all-time low of 10.19 (and close at 10.875) today (Thursday), Germany’s biggest bank continues its sink into the abyss, as shown on the Monthly chart of Deutsche Bank.
Role Reversal
A nice example (by way of crude oil) has a trendline changes roles from resistance (red arrow) to support (green arrow).
