Monday, July 22, 2013

Oil running into resistance

Here’s a weekly oil-chart

Oil weekly 2013-07-22

Excluding the huge runup and fall, the 110 area has been resistance for a long time. We had spikes above, but retraced them usually after the hurricane season into the october lows. If 110 can clear, then we run into yearly resistance at 117 and 123.

Oil weekly 2013-07-22-2

2 comments:

sam said...

just want to drop a line to say...very happy you are posting again. have been following your blog for many years.

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