Wednesday, January 7, 2015

Oil Under $48!


If Oil crashing from $100+ in June 2013 to under $48 isn't a black swan event, I don't know what is.

This is a huge area of support from long term chart patterns, but then again, it's the weekly or monthly close that is important, so we may probe and stay under this level mid-week before closing above it.

I do think we are due for a bounce soon, but I do not think that it's going to rally to the moon here. I would guess just more chop.

Anyway, just spewing out my random thoughts. My opinions, your money!

2 comments:

  1. Nice Graph!! We have currency wars, Commodities wild fluctuations, Asia markets swinging hard.
    I am expecting something huge to happen in the stock market real soon.

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    Replies
    1. Hi Dave! Oh yes, I think things are going to be very interesting very soon! I'm actually positioned quite very defensively now. I have been patiently waiting for the turning point of the cycle, haha

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