Monday, December 1, 2014

Okay, Oil Is Up $2.20 (3.3%), Now What?

Following up on Saturday's "Oil: So Where Does the Decline Stop?":
Right here (for now).
After settling at $66.15 the Jan. futures drifted down to $65.99 in late trade....
... Countertrend and then lower.
More to come....
Bolding in original.
Here's today's action via FinViz:
You'll note I failed to consider the Pre-Open Electronic Trading (Sunday) drop from the prior settle of  $66.15 but we'll take it as a win for both direction and date.
CME Jan. WTI $68.35 up $2.20 and probably going higher before the downtrend resumes.
Specifics later this week.

Idiot savant? Who you calling a savant?