System identification neural networks

Crude oil chart pattern: WTI and Brent

WTI Crude chart

Crude_WTI_Jun0412

WTI Crude oil price dropped like a stone during May ‘12, accompanied by high volume spikes on down days. A probable sign of smart money getting out. The ‘death cross’ of the 50 day EMA below the 200 day EMA has confirmed a bear market. A drop below the Aug ‘11 low of 76 will form a bearish pattern of lower tops and lower bottoms.

All three technical indicators are looking bearish and oversold. MACD is falling below its signal line in negative territory. Both RSI and slow stochastic are deep inside their oversold zones. WTI Crude price has fallen too far below its 20 day and 200 day EMAs.

A technical bounce can be expected, and appears to have started already. Such a bounce will correct oversold conditions, and can be used as a selling opportunity. As long as oil’s price doesn’t fall below 76, bulls may have some hope left.

Brent Crude chart Crude_Brent_Jun0412

Source: Stock Market Charts | India Mutual Funds Investment

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Look.............

2008-10-16 21:37:03 by 1pushkick

These guys don't know JackS***. Really.
the stock market is an independent creature creation. It is its own entity and is dependent on nothing but the people that control it and it alone. It is not dependent on the companies themselves, the FED, the banks, or anything else.
It is a GAME. It is that simple. It is a game of pattern and momentum. The charts tells you all you need to know.
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2006-10-07 11:32:49 by Oakland_43

A crutch. Without superstition and magic beliefs, they can't face their lives and often turn to drugs, alcoholism, crime and/or compulsive sexual activity.
As far back as 2500 years ago, Aristotle taught that our "religion" should be the study of nature and Confucius taught a similar thing.
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2006-07-27 11:47:41 by ----

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Best Bet, Proudest Monkey

2009-02-26 22:33:50 by jonahsbelly

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