‘Crude Oil’ Archive

Most important commodity on the planet breaking support?

  CLICK ON CHART TO ENLARGE Even though the media tells us of some unrest in the mid-east, Crude Oil is breaking support of a bearish rising wedge of late! On June 20th, Crude oil hit a short-term high on news coming out of Iraq and since then Crude Oil is down almost 10%. The [...]

Breakdown in Crude could happen if this support breaks, impact SPY?

  CLICK ON CHART TO ENLARGE Unrest in Iraq pushed Crude Oil prices up for a week and bullish sentiment towards crude reached lofty levels. Turmoil continues in Iraq, yet Crude Oil turned soft. The decline in crude oil has it now testing a 6-month support line and support is support until broken. Should support [...]

Energy stocks about to breakout and push above 2007 highs?

   CLICK ON CHART TO ENLARGE The Dow and S&P 500 are near all-time highs, energy stocks are attempting to join them. Energy ETF (XLE) recently hit its 2007 highs and backed off a little. The decline now has XLE testing support of this 6-year rising channel. Important test for energy stocks right now? Yes! [...]