click chart to enlarge
Oil’s Well that End’s Well
December 15th, 2008 at 10:00pm · 1 Comment
There seemed to be plenty of media ready to tout oil as it approache $50. this morning. But at the end of the day, the chart is sporting a black and green bearish range-bust reversal bar. Ouch!
Tags: Crude Oil
1 response so far ↓
1 BearOfNH // Dec 17, 2008 at 6:11 am
I’ve been reading the “indicators” page (http://carolan.org/indicators/) to learn about range-reversal bars. In particular, the indicators page (not comment-enabled) says you color a range-bust bar “red for down and green for up”. I can’t figure out what the “up” and “down” refer to. On the Indicators page, the first “S” bar at the upper left is a green-black range-bust bar. Why is it deemed “up”? Obviously the high of the bar is higher than the high of the previous bar, but on the other hand the low of the bar is also lower than the previous bar’s low. Also, the close of the bar, being a black bar is lower than the close of the previous bar (which, being white has its close at the top of the bar). If anything, the bar looks more red than green.
So I don’t see how you tell down from up. Can you elaborate on that? Thanks!
You must log in to post a comment.