"BP
Spinning top day. Almost an inverted hammer (I said almost). Still trapped by candle body from the long down day on 6/9/10. Still below the 0.0% retrace. Still below EMA(10). No daily 3LB changes (reversal is 43.86)."
On Jun 22, 2010, at 4:29 PM, Estragon wrote: "Does BP go up or down tomorrow?"
reply...
Who knows?
If they start collecting "all the oil", then good chance of up
Commodity complex incl oil will likely pull back, maybe hard, if so, bp goes down tomorrow with the rest...
The markets in general (read SPX) are teetering - scrimage line at 1100 with bulls and bears pushing each other back and forth between 1050 and 1150. Break below 1050-1040 then it is a free fall to 950, if that does not hold, 875. On the upside, we probably don't see 1250 again this year...but, never say never
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