Posted by sbaxman111 on 6th of Oct 2017 at 01:09 pm
Crude Oilhas rallied for the past few months,
could it be peaking? Joe Friday suggests Crude finds itself at a
key
inflection point for it and its Fear Index (OVX).
Below looks at Crude Oil futures over the past decade-
Joe Friday Just The Facts Ma’am– If Crude breaks support and
OVX breaks resistance at (4), Crude could be a good prospect to
short, as selling pressure in Crude could pick up.
The stock market rally of late might get a little nervous if Crude
would happen to break down and OVX breaks out. What Crude does here
will be important for Crude Oil and the broad market in general, as
traders now own a crowded trade, similar to what they did back at
the highs in 2014.
Kimble on Crude Oil
Posted by sbaxman111 on 6th of Oct 2017 at 01:09 pm
Crude Oil has rallied for the past few months, could it be peaking? Joe Friday suggests Crude finds itself at a key inflection point for it and its Fear Index (OVX).
Below looks at Crude Oil futures over the past decade-
Crude Oil rally of late has it testing 6-year falling resistance as its fear index (OVX) is testing 2015 lows at the same time.
Joe Friday Just The Facts Ma’am– If Crude breaks support and OVX breaks resistance at (4), Crude could be a good prospect to short, as selling pressure in Crude could pick up.
The stock market rally of late might get a little nervous if Crude would happen to break down and OVX breaks out. What Crude does here will be important for Crude Oil and the broad market in general, as traders now own a crowded trade, similar to what they did back at the highs in 2014.
Thanks sbaxman
Posted by steve on 6th of Oct 2017 at 02:14 pm
Thanks sbaxman