Is Crude Oil Nearing Recovery Rally Exhaustion? By MPTrader
* March 18, 2016
Nearby Oil has traversed its Feb-Mar bullish channel again-- to the upside off of Tuesday’s pullback low at $35.96 into $41.00-$42.00 area-- the upper-channel boundary zone.
Let's notice that this new high is unconfirmed by my hourly momentum gauge, which is a warning signal that this week's near-vertical up-move is nearing exhaustion, ahead of another bout of weakness.
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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! • gtsourdinis
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