InvestorsHub Logo
Followers 679
Posts 140260
Boards Moderated 40
Alias Born 03/10/2004

Re: None

Monday, 05/15/2017 12:34:20 PM

Monday, May 15, 2017 12:34:20 PM

Post# of 10500
>>> Crude Correction <<<
By Ed Carlson | May 15, 2017

Crude gained $1.62/bbl. last week and closed at 47.84 but still below the 200-dma. BWI (bandwidth indicator) fell in non-confirmation of the rally.

Support is at 45.25. I suspect we will see a run to the 200-dma at 49.00 prior to new lows in crude however, the detrended oscillator is overbought warning of a pullback early this week.

The weekly Coppock failed to confirm last winter’s new high warning of a serious correction (chart).

Cycles: An annual high is due in late May.

Coppock Curves: Daily is rising but the weekly is falling. The monthly is rolling over.

Seasonality is bullish in May.



http://seattletechnicaladvisors.com/blog.html

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