In the summer of 2014, when Crude Oil was trading near $106 per barrel, traders amassed the largest bullish crowded trade in history. After the crowd turned big time bullish Crude Oil, it started falling in price and Crude underwent a history decline, losing over two-thirds of its value in less than 2-years.
Currently the Crude trade now reflects MORE bulls than back in 2014. Is sentiment alone enough to make a decision of what to do with this sector? I humbly don’t think so. Below looks at Crude Oil and three other energy ETF’s and how they look from a Power of the Pattern perspective....MORE
See also John Kemp at Reuters, Tue Feb 7, 2017 | 10:34am EST: