Oil & Gas - Energy - Commodities - Resources (OILBRENT)

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Did Oil's Entire Countertrend Advance Off Feb 2016 Low End This Week?
By: MPTrader | May 25, 2018

Crude Oil weakness... acute weakness... is all that matters today. Judging from the intense selling pressure and the damage inflicted on my near and intermediate term chart work, this breakdown in Oil is, and will be extremely significant. In fact, the BIG question for me is whether or not the ENTIRE COUNTER TREND ADVANCE OFF OF THE FEB. 2016 LOW AT $26.05 ENDED THIS WEEK AT $72.90? If the answer is yes, then believe it or not, Oil prices are in the initial decline of a downmove that represents the continuation of the Oil bear market from the July 2008 high at $145.07, and thus, has the potential to revisit and to break the 2016 lows ($26.05). The implications of this week's Key WEEKLY Downside Reversal are many. What are the ramifications for other sectors, for economic growth, for inflation-disinflation, et al?... Last is $67.58/59



5 25 18 Oil 4 hr 1240 GIF



5 25 18 Weekly NYMEX Crude Oil GIF

https://www.mptrader.com/middaymarkets/

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