Comparing oil from 2015 rise to this, the graph looks parabolic now. Whereas before it was just a channel going up. Tomorrow may be a bull trap forming, get a put if you still wish to buy at these levels or usually it means it will go sideways to compensate.
What are you talking about.....
The initial run from 26 dollars to 51 dollars has a slope of: 25 dollar rise over 4 months
whereas the current rally from 42.5 to 61.5 has a slope of: 19 dollars over 7 months
That is NOT parabolic...
cannukville
⋅
@Remind, Parabolic is not linear, it is made with a collection of different linear slopes. Linear slopes have approximately the same slopes. Just because 19 is smaller than 25 does not mean it isn't parabolic. The current chart and lines show it pretty clearly. We will see what happens tomorrow to do a better estimate. All this is to warn that something seems to be happening and we all should have this on the back of our heads to either take some profits to cash in some gains
i understand what parabolic is, but you need to put it into context. if a stock consolidates for a few months and pulses up, by your definition that is parabolic.
You can make a linear argument for the current rally as well.
Not saying that oil is not due for a correction, i'm saying it's not parabolic.
look at bitcoin on it's last few days up to 20k, that is parabolic. whereas oil is not.
cannukville
⋅
@Remind, always a probability in everything we look at. At the end, we have our opinions and in this near random process called the stock market, our views on it only provide us with an estimated probability on what we will or will not happen. This is why outlooks and charts can change and sometimes we can see different things in the tea leaves which also depends on the time frame one looks at
The initial run from 26 dollars to 51 dollars has a slope of: 25 dollar rise over 4 months
whereas the current rally from 42.5 to 61.5 has a slope of: 19 dollars over 7 months
That is NOT parabolic...