| Followers | 679 |
| Posts | 140763 |
| Boards Moderated | 36 |
| Alias Born | 03/10/2004 |
Monday, June 26, 2017 9:09:28 AM
A Crude First Half For Oil
By Bespoke | June 26, 2017
If there was a mercy rule in the financial markets, we may have already called it a year for crude oil. With a decline of 20% on the year and declines in each of the last five weeks as well as eight of the last ten, 2017 just hasn’t been crude oil’s year. Compared to prior years, crude oil is on pace for its worst first half in 20 years (1997), and if we get a decline like last week again, crude oil could conceivably see its worst first half since 1991!
Looking at crude’s chart over the last year, it closed out last week right below the lower end of its down trending range that has been in place since its early year highs. The fact that it couldn’t bounce at this level is concerning if you are a bull. It still remains extended to the downside, so you can’t rule out a short-term bounce from these levels, but if it doesn’t soon, things could get ugly quickly.
https://www.bespokepremium.com/think-big-blog/a-crude-first-half-for-oil/
• DiscoverGold
By Bespoke | June 26, 2017
If there was a mercy rule in the financial markets, we may have already called it a year for crude oil. With a decline of 20% on the year and declines in each of the last five weeks as well as eight of the last ten, 2017 just hasn’t been crude oil’s year. Compared to prior years, crude oil is on pace for its worst first half in 20 years (1997), and if we get a decline like last week again, crude oil could conceivably see its worst first half since 1991!
Looking at crude’s chart over the last year, it closed out last week right below the lower end of its down trending range that has been in place since its early year highs. The fact that it couldn’t bounce at this level is concerning if you are a bull. It still remains extended to the downside, so you can’t rule out a short-term bounce from these levels, but if it doesn’t soon, things could get ugly quickly.
https://www.bespokepremium.com/think-big-blog/a-crude-first-half-for-oil/
• DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
• DiscoverGold
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
