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:

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