nymex light crude...

here's my nymex active crude oil fut contract chart(weekly), moving near upper end of channel, upper end of channel $130/bbl plus, vol still high and price still moving strongly, stochs/rsi in overbought zone, support seen near $120.50/118/116/bbl, adx showing gradual weakening strength of trend.

new features...

some new features added to blog:

1)positional stock ideas in fno link(on page top).
2)vfmdirect ta friend's blog list(right hand bottom)
3)vfmdirect.com site feed showing updated threads(right hand bottom).

i was expecting nifty to take support at 4920(50 dma)/4914(4914 lies exactly on tline connecting recent lows). i think yday was a bounce which may continue till 5100-5175 then a further fall upto 4800, then a fresh upmove begins thereafter, some months back i was viewing terminal impulse development on 5th monthly(ew) and currently this view of mine is also based on that, if it goes this way then that thinking will be ratified to some extent.