Crude Chops Sideways

Click on chart to enlarge.














Crude is not exactly accelerating down ( though it's not ripping up either ). This choppy sideways action is usually considered a consolidation prior to a resumption of the trend, and certainly thats a strong possibility even probability here. But.

Take a look at the action  following both the "c" and "e" labeling  on the chart. The subsequent sell offs of $4 and $6 respectively had very similar choppy action that looked like the current one.

Comments

Popular posts from this blog

WTI Update- a 4 Handle Future?

Biden Climate Plan and Global GDP

Crude Oil Update