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://2.bp.blogspot.com/-rhMc_nKorgw/VswuqWdPshI/AAAAAAABMYA/Suh_5vcLgwI/s1600/Crude%2Boil%2B4%2BHour%2Bchart.png
...MORE

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