Replies to post #17544 on The Rising Influence of Rising Affluence

[biocqr]

Does not look like a bottom from a TA perspective. Looking at the monthly charts this selloff is just getting started. At least another 3 mos before it bottoms IMO.

If 55.35 doesn't hold then 45.50 and $26 are possibilities.

[biocqr]

Crude oil...if CL closes above 45.47 by the end of the week this low should hold.

S2 is the 61.8% yearly fib pivot which is a major reversal level.

45.47 is the 61.8% retracement from the Feb 2016 low to the Oct 2018 high.

It would also form a nice hammer on the weekly chart.

https://www.tradingview.com/x/kTN4os6Y/

If 55.35 doesn't hold then 45.50 and $26 are possibilities