Is a bottom in for Crude?

7 dic 2018

Crude has recently broken out of a downward channel. After a brief retest of is it now safe to dip your toes back into oil and the related energy complex?

27 dic 2018

Nota

What initially looked like a good break turned out to be a false signal as CL1 has since broken the important support that developed around $50 and is now at a $45 handle. While it could develop around support in the $43 area, this really seems to be a powerful bear market and if I were to guess I'd say we're heading for mid to upper 20S here. Traders should be wary that downtrends like this often give 2 false signals of a break in the downtrend before being finally confirmed by a 3rd.