Crude Oil Testing Support With Fear Levels High, After 31% Decline

(Click on image to enlarge)

Crude oil has been hit hard of late. The decline has Crude testing 3-year rising support at (1), as fear levels are high at (2) and weekly momentum is currently nearing oversold levels.

Below looks at Crude Oil and its 10-week performance –

(Click on image to enlarge)

Crude Oil has declined over 30% in the past 10-weeks at (1), as it is testing rising support at (2).

Wouldn’t be surprised to see Crude experience a short-term bounce as fear levels are very high and it is testing 3-year rising support.

Sign up for Chris's Kimble Charting Solutions' email alerts--click here.​

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.