• 514 days Will The ECB Continue To Hike Rates?
  • 514 days Forbes: Aramco Remains Largest Company In The Middle East
  • 516 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 916 days Could Crypto Overtake Traditional Investment?
  • 920 days Americans Still Quitting Jobs At Record Pace
  • 922 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 925 days Is The Dollar Too Strong?
  • 926 days Big Tech Disappoints Investors on Earnings Calls
  • 927 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 928 days China Is Quietly Trying To Distance Itself From Russia
  • 929 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 932 days Crypto Investors Won Big In 2021
  • 933 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 933 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 936 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 936 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 939 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 940 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 940 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 942 days Are NFTs About To Take Over Gaming?
How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

  1. Home
  2. Markets
  3. Other

Crude Oil Due for a Pit Stop

Crude gained $2.58 last week to close at 38.50 - on the declining trendline and the 50% retracement of the October decline. My bandwidth indicator has turned down indicating that the rally is long-in-the-tooth. On Friday, crude tested 39.00 which makes the February rally equal to 150% of the January rally; a natural stopping point.

The daily Coppock is overbought warning of a downturn in crude but it is also high enough to characterize it as confirming the high in crude (i.e. higher highs ahead after the next wave down).

Crude Oil Continuous Contract Weekly Chart
Larger Image

 


Click here to get your copy of the March Lindsay Report.

 

Back to homepage

Leave a comment

Leave a comment