Crude through support on 240, now final support on daily

A few days ago i posted this 240 chart of WTI futures. We subsequently broke through support and now sitting at support on the daily which as you can see has a long standing up-trend. Wouldn’t be surprised to see a small bounce of $1.50 here, tagging the underside of the previous support as resistance (lower green line.

Good for a trade but probably minimal upside. Cheap, short dated options, holding 5-7 days probably not bad choice if one were inclined.

Crude Oil Daily

oil-240

Tue, Jun 6, 2017 12:00 PM – 1:00 PM Paul Coghlan will be hosting a free public webinar covering this method of technical analysis. A recording will also be sent to all those registered.

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