Energy sector – bearish stock chart pattern developing ?
I monitor Energy sector for several weeks . I cannot decide if situation is more bearish or bullish.
But I have slight feeling that it is much more like bearish chart pattern then bullish chart pattern.
February 15th, 2009 at 1:28 pm
Well the energy sector looks to me quite promising here, as the volume is picking up with more floor brokers punching in block trades over the past 2 weeks. All in all it looks to me that we might be in for a sharp short term rally here. However I still perceive it to be played safe. Charts are looking to bottom out here, risk-to-reward is good out here. Still, one needs to trade for the trade, NOT for the P&L
Cheers
Girish
http://www.investing-in.com
March 4th, 2009 at 8:12 am
[...] mentioned bearish scenario few weeks ago, so hope you did good trades in this [...]