![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi4rbMcnSpmTAO4bI73Oo4aU7FEQ-RtiG7UGdcQsxrofyfDnVqK70REdRMi9akXl1E0tCQukX2TGsmmYYRn_NX3IUDfftn0xxZ0RWzGJYeoFh9sHwUOgRzmhlqAbq-wKdy1_2ZxW8FQqd1e/s320/crude.jpeg)
July 6, 2013
Trading Range Breakout For Crude Oil
This is a followup to the post I did on crude oil in June. The triangular consolidation on crude had been forming for a long time. Crude finally broke out of the ascending triangle. This is a very bullish chart still and I wouldn't be surprised to see a 110 retest. Triangles are very powerful chart signals. I drew up a new chart and I posted it below. The trend line breakdown I circled was very telling of what direction it was heading. That was definitely a failed signal.
I sold my KWT solar etf position for a slight loss at $46. I didn't get an ideal entry and didn't like the price action so a stop loss is a stop loss. I'm thinking of uploading some video posts in the near future here. I'm looking for a good desktop video software so I can show what I'm talking about simultaneously.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi4rbMcnSpmTAO4bI73Oo4aU7FEQ-RtiG7UGdcQsxrofyfDnVqK70REdRMi9akXl1E0tCQukX2TGsmmYYRn_NX3IUDfftn0xxZ0RWzGJYeoFh9sHwUOgRzmhlqAbq-wKdy1_2ZxW8FQqd1e/s320/crude.jpeg)