The_Unwind

Crude Oil Busted Pattern Above $70 a Barrel

Corto
NYMEX:CLZ2018   Crude Oil Futures (Dec 2018)
On 10/17/18, I wrote a post here about the bearish chart implications
on Crude Oil, and noted the bearish correlation I was seeing between
its declining price, and the stock market decline in October 2018.

On 10/23/18. as the stock market fell sharply
Dec Crude CLZ was down ..over 4 %... to 66.43,
breaking important trend line support at 67.00

Next major support is the 8/16/18 Low of 64.43
that the bulls will need to defend,or downside projections could open up substantially.

Continuous Crude Oil Contract is currently a busted pattern above $70.00 !

THE_UNWIND
10/24/18 413 am New York

Exención de responsabilidad

La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.