sTAr Light sTAr bright let me raise my Flag tonight!

Another issue to watch on Flag.

I am still holding my TA at the target 2.8 based on Cup and handle,but that was not reached. The Price retrace and looks like going down. I was planning to sell it at a little profit or at a little loss.

I thought it will fail, but it seems that I am wrong. TA looks like forming a flag. Pefect beAutiful one.That might realize my target at 2.7 - 2.8. Last 11/07/07 it signaled to go up to break the resistance of the flag but decide to go down again. It just formed another bounce that made the flag even more sexy.

If I am buying at a breakout of this flag, the price above 2.0 is a buy for me. In my opinion, this will continue to dance with the oil prices' moves.Just a warning to my readers, flag are the most difficult to trade, it may not reach the target and quick to retrace, you have to absolutely determine you exit and entry point.

If it goes out above 2.0 and retrace too early sell at a loss. Maximum target is 2.7 but have to watch for market momentum to hold on or not.

TA Flag :




TA Cup and Handle: