Apr 132011

Brent Crude had formed an 'inside day' and it has now exceeded the range of this inside day, dropped hard to the downside. So, there is a high degree of probability that there is an intermediate term reversal in crude.

Brent - Daily Charts

  7 Responses to “Crude – update to previous post”

  1. Good to see your comments on Crude Jai. Crude has just met resistance at a rising channel and its only a matter of time when it will start moving up again. Your views on Crude & Equity relation is quite valid. The relation between these assets is often misread and frankly ignored. Most just place their opinion in front of what the Screen is telling them.

    If Crude stabilizes and moves up, we would eventually see markets move ahead too. Commodity driven rally is dangerous, but its also the best phase for a trader to participate in. Let’s see where the market eventually head.

  2. Hi Jai Bala,

    I am already seeing Nifty at 4200. What do you say?

    • Hi Kishan,

      The bare minimum is sub 4800 but right now bullish alternatives needs to get negated. Stay flexible.


  3. Jai Bala,

    Thanks for the reply.

    First let me tell you some thing I intended to tell you for a long time. I do have immense respect for your understanding of
    financial markets. I googled every single day for your market observations after 8th May 2008 (That was your last post). Some how I found your blog. Bonus is now I can Interact with you. That is super cool. 🙂

    I never had much success with individual stocks ( I am still wondering how you are able to understand their market action). and your astro dates (are you insane?). Your blog is as good as traderfeed.blogspot.com, kirk report. You three people are food for thought for me.

    As far as Nifty is concern there are enough evidences for me we are heading downwards. You put it in best possible way ” bullish alternatives needs to get negated”. Yes, I am flexible. I go by point to point and point by point.

  4. Hi,

    Do let us know when the alternatives start their negation…:)


  5. 🙂

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