Comments on: TLT Final Price Target Hit 12-6-23

By: ajp17

ajp17 — Wed, 06 Dec 2023 18:59:05 +0000

Set $1 trailing stop on TLT in case it keeps running. On my charts, it looks like resistance is around $97.

NG weekly chart looks like a massive bear flag…

By: albert hernandez

albert hernandez — Wed, 06 Dec 2023 18:08:09 +0000

is there a corellation with oil droping before stock markets do

By: B-Right

B-Right — Wed, 06 Dec 2023 15:17:18 +0000

In reply to rsotc. Most of the times when you see positive divergences and extended positive divergences you would be saying this should be a nice tradeable bounce or rally but this time you mention you dont have a strong opinion on this. Whats the difference between the set up now in Oil Vs the other times when you see extended positive divergence. Just curious. thanks

By: rsotc

rsotc — Wed, 06 Dec 2023 14:32:17 +0000

In reply to B-Right. Sure but I don't have a strong opinion on the near-term outlook for crude other than to point out that it just put in a divergent low, or really just extended the positive divergences that were already in place at the previous low on the 60-minute charts so a tradable bounce is likely coming soon IMO.

By: rsotc

rsotc — Wed, 06 Dec 2023 14:30:05 +0000

In reply to FooHawk. Yes, I do think the odds for a reversal & tradable pullback on TLT & /ZB are favorable. That blue support level at 89.65 on the updated 60-min chart in the post above appears to be a likely target & if so, that would be a 5.75% drop so a ~2% or so stop just above the 97 resistance (Aug reaction highs) seems ideal IMO.

By: B-Right

B-Right — Wed, 06 Dec 2023 14:23:26 +0000

@rsotc: Randy, Can you cover Oil in today’s video please.

By: FooHawk

FooHawk — Wed, 06 Dec 2023 14:08:14 +0000

Do you see it reversing from here? Just a resistance reaction or more? Thanks in advance!