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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Reversals: Resistance & Buy Signals

    Lobo
    Lobo
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    Posts : 28411
    Join date : 2013-01-12

    Reversals: Resistance & Buy Signals Empty Reversals: Resistance & Buy Signals

    Post by Lobo Fri 22 Jan 2016, 1:21 pm

    Reversals: Resistance & Buy Signals

    Posted on January 22, 2016 by Martin Armstrong

    Reversals: Resistance & Buy Signals Crude-Y-Socraties-2015-r1
    QUESTION:
    Hi Martin,
    I have been a loyal reader since your early writings from prison and
    greatly appreciate all you do for society and the “common man” at least
    those willing to learn. Thank You.
    We (a couple of loyal followers comparing your analysis) are a little
    confused on your recent Jan 19th coverage on oil. You state: We follow the 2016 low support targets of $25 and $16.
    You state in running what-if scenarios to try to forecast where the
    Yearly Bullish Reversal (buy signal) will be generated from either low
    of $25 or $16 it ends up with $40-$41.50 This seems like it would be a sell signal instead of a buy signal??????? since $40-$41.50 clearly becomes the major resistance moving forward. Could you please clarify because we do not understand?
    Thank You for your time.
    Sincerely,
    RP
    ANSWER: The Reversal System is always calculating the counter number to the move. In other words, the system will generate the Bullish Reversal from a low and that must be elected to signal at least a temporary low.
    In this case, the current Yearly Bullish stands at $82. This break to new lows should bring in a lower number in the $49-$42 area. This would be interesting symmetry since the Yearly Bearish elected was $41.25.
    That would be the major resistance. I have explained before that in 1998 the dollar/yen rallied to test the Yearly Bullish at $147. We were running out of time, so I sold against that number and then placed a stop just above. We did not get through that Yearly Bullish Reversal.
    This would be no different. It is showing us that a reversal in trend would require a yearly closing say above $42 (in general) before you could say a bull market would emerge.
    This entry was posted in Uncategorized and tagged Reversals by Martin Armstrong. Bookmark the permalink.

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