{"id":8519,"date":"2010-03-09T08:31:01","date_gmt":"2010-03-09T13:31:01","guid":{"rendered":"http:\/\/www.thedisciplinedinvestor.com\/blog\/?p=8519"},"modified":"2016-09-20T06:40:52","modified_gmt":"2016-09-20T10:40:52","slug":"oil-uso-headed-lower-on-technicals-bearish-engulfing","status":"publish","type":"post","link":"https:\/\/thedisciplinedinvestor.com\/blog\/2010\/03\/09\/oil-uso-headed-lower-on-technicals-bearish-engulfing\/","title":{"rendered":"Oil (USO) Headed Lower on Technicals &#8211; Bearish Engulfing"},"content":{"rendered":"<p>We have been <a href=\"http:\/\/http:\/\/www.thedisciplinedinvestor.com\/blog\/2010\/03\/08\/indicators-we-are-watching-this-week-up-to-start-and-down-to-end\/\">watching oil closely<\/a> over the past few weeks as the breakout and breakdown pattern has been providing for a good deal of profit opportunities. Now it appears that it is close to a topping point and the bearish engulfing pattern has been a good predictor over the last several cycles.<\/p>\n<p>From <a href=\"http:\/\/www.briefing.com\"><strong>Briefing Trader<\/strong><\/a>:<\/p>\n<blockquote><p>United States Oil (USO) shares are now posting a &#8216;bearish engulfing&#8217; candlestick pattern on the daily as price slides to fresh lows @ midday, with a short-term play to possible close the Mar. 5 gap @ 39.29.<\/p><\/blockquote>\n<p>Even as shares bounced a bit toward the <!--more-->close trading in the commodity pits, the pattern stands.<\/p>\n<p>(Clients of <a href=\"http:\/\/www.horowitzandcompany.com\"><strong>Horowitz &amp; Company<\/strong><\/a> are <em><strong>Short <\/strong><\/em>oil through 2X Inverse ETF &#8211; SCO)<\/p>\n<p style=\"text-align: center;\"><a href=\"https:\/\/thedisciplinedinvestor.com\/blog\/wp-content\/uploads\/2010\/03\/bearish_USO.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" title=\"bearish_USO\" src=\"https:\/\/thedisciplinedinvestor.com\/blog\/wp-content\/uploads\/2010\/03\/bearish_USO.png\" alt=\"bearish_USO\" width=\"620\" height=\"507\" \/><\/a><\/p>\n<p><strong><a href=\"http:\/\/www.investorpedia.com\">Investopedia <\/a>explains <em>Bearish Engulfing Pattern<\/em><\/strong><br \/>\nAs implied by its name, a bearish engulfing pattern may provide an indication of a future bearish trend. This type of pattern usually accompanies an uptrend in a security, possibly signaling a peak or slowdown in its advancement. However, whenever a trader analyzes any \u00a0candlestick pattern, it&#8217;s important for him or her, before making any decisions, \u00a0to consider the prices of the days that \u00a0precede and follow the formation of the pattern.<\/p>\n<p style=\"text-align: center;\"><a href=\"https:\/\/thedisciplinedinvestor.com\/blog\/wp-content\/uploads\/2010\/03\/bearengulfp.gif\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" title=\"bearengulfp\" src=\"https:\/\/thedisciplinedinvestor.com\/blog\/wp-content\/uploads\/2010\/03\/bearengulfp.gif\" alt=\"bearengulfp\" width=\"421\" height=\"213\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>We have been watching oil closely over the past few weeks as the breakout and breakdown pattern has been providing for a good deal of profit opportunities. Now it appears that it is close to a topping point and the bearish engulfing pattern has been a good predictor over the last several cycles. From Briefing [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[12,21,42,253],"tags":[286,483,486],"class_list":["post-8519","post","type-post","status-publish","format-standard","hentry","category-markets","category-short-ideas","category-stocks","category-strategy","tag-commodities","tag-markets","tag-short-ideas","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"acf":[],"_links":{"self":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/posts\/8519","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/comments?post=8519"}],"version-history":[{"count":0,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/posts\/8519\/revisions"}],"wp:attachment":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/media?parent=8519"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/categories?post=8519"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/tags?post=8519"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}