zeezeetop
30 posts
msg #59907
- Ignore zeezeetop |
2/24/2008 9:33:20 PM
Anyone else seeing an inverted head and shoulders on DUG?
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nikoschopen
2,824 posts
msg #59908
- Ignore nikoschopen |
2/24/2008 10:43:15 PM
It looks more like a saucer to me. You can clearly see that it's rounding out and up.
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EWZuber
1,373 posts
msg #59912
- Ignore EWZuber |
2/25/2008 4:22:32 AM
Still, I'd wait for the resistance trendline to be violated.
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johnpaulca
12,036 posts
msg #59913
- Ignore johnpaulca |
2/25/2008 8:51:44 AM
DUG...looks like a nice short setup...increasing sell volume in a hot O & G environment.
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EWZuber
1,373 posts
msg #59914
- Ignore EWZuber |
2/25/2008 10:05:46 AM
I'm going to agree with johnpaulca. DUG is up against resistance and bounced down from the 25 DMA several times.
Weekly Chart is in the same boat, now below the 25 WK.MA and in a distriburtion phase.
Definately would not be going long at this point.
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zeezeetop
30 posts
msg #60059
- Ignore zeezeetop |
2/29/2008 7:09:51 AM
No inverted head and shoulders here. Kudos to johnpaulca and EWZUBER. What's interesting though, is that oil is at an all time high and natural gas is the highest it's been since August of last year. In spite of that, DUG hasn't broke through 35 on the down side yet. Possibly something in the weighting of the ETF. It should pass through 35 in the next several days if the current trend continues. DIG could be a better choice.
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