Crude oil has a stupendous rally from the lows of sub 20 USD per barrel to the high of 77 USD per barrel. If we look at the given chart of crude oil the rally has reached a tipping point. Crude oil has been trading in this downward sliding channel since 2008 and it will again face resistance at these levels. I don't see a breakout for crude oil and the most likely trend from here is down.
No comments:
Post a Comment