‘Crude Oil’ Archive

Crude Oil creating bullish reversal pattern at support, says Joe Friday

joefridaycrudebullishwickat support jan 22

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The decline in Crude Oil over the past 18-months has been historic, largest 18-month decline ever!

Crude remains in our opinion, the most important commodity in the world and its relentless decline is of concern, on a macro basis.

The chart above looks at Crude Oil and its Fear Index, …

Most Important commodity on the planet breaking last support level!

crudebreaking23fibsupportleveldec7

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The chart above looks at the most important commodity on the planet, which is Crude Oil.

This is a “Monthly Closing” chart on Crude oil, all the way back to 1983.

The Power of the Pattern applied Fibonacci to the lows in 1998 and the highs in 2008.

In 2009 …

Crude Oil Market As Oversold As 1999 Lows

Crude Oil is quite simply the most important commodity on the planet. But volatility with Crude Oil prices emerges every time there is conflict in oil producing nations or an economic slowdown.

And this has led to some pretty big swings in Crude Oil prices over the past several years.

But the latest swing lower …