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Crude Oil Attempts Key Breakout

Published 09/23/2016, 10:20 AM
Updated 07/09/2023, 06:31 AM

Below looks at crude oil on a monthly closing basis since the early 1980s.

Crude started tanking in 2014 and its low earlier this year happened at dual long-term support at (1) below.

Crude Oil

Two support lines that date back over a decade came into play at (1) and so far have held. Crude remains in a down trend, which is being tested at this time.

Crude oil is trying to breakout of a two-year falling trend at (2).

Crude and stocks have had a high degree of correlation over the last few years. What crude does at (2) could have a significant impact on stocks going forward.

Latest comments

Or new attempts to break back again ?
breakout with -4%
Janet cool down please, it's not good for your heart condition, you are not used to give precise numbers in short sentence.
Dang...now you're going to have to modify your really useless chart...
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