Tuesday, February 23, 2016

Oil Chartology: Been There, Done That

WTI down 14 cents at $33.25.
One of these times oil will get through that $34.00 area that has been resistance but until it does we are still betting lower. There is a lot of oil around.

From Nifty Charts, the 4-hour chart:
https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjdxW-kITeE-5camdFlpqVjAweg3_BxbCcxy2bgNkZ-uyuO47-XcvjDCwWwmTzHsPaEvmlT3ZWrn9FRx2uW5S6pNBxGf2tQ1k3feVMyGHYkX-iKkTufE4IFj_TRl7oqRRfhcqg8IEF_iqF-/s1600/Crude+oil+4+Hour+chart.png
...MORE

We've been babbling about "$34-34.50" since Jan. 27.