On 10/17/18, I wrote a post here about the bearish chart implications
on Crude Oil, and noted the bearish correlation I was seeing between
its declining price, and the stock market decline in October 2018.
On 10/23/18. as the stock market fell sharply
Dec Crude CLZ was down ..over 4 %... to 66.43,
breaking important trend line support at 67.00
Next major support is the 8/16/18 Low of 64.43
that the bulls will need to defend,or downside projections could open up substantially.
Continuous Crude Oil Contract is currently a busted pattern above $70.00 !
THE_UNWIND
10/24/18 413 am New York
on Crude Oil, and noted the bearish correlation I was seeing between
its declining price, and the stock market decline in October 2018.
On 10/23/18. as the stock market fell sharply
Dec Crude CLZ was down ..over 4 %... to 66.43,
breaking important trend line support at 67.00
Next major support is the 8/16/18 Low of 64.43
that the bulls will need to defend,or downside projections could open up substantially.
Continuous Crude Oil Contract is currently a busted pattern above $70.00 !
THE_UNWIND
10/24/18 413 am New York