CRUDE OIL Look AT THIS CHART + DECIDE WHAT IT COULD MEAN
On November 25,2018 I wrote my last article on tradingview.com
on Crude Oil, a market that I identified early..
this past fall as having an almost direct downside bearish correlation with the stock market.
I invite all readers to reference that November 25,2018 article for themselves on this site.
In it, I clearly noted an additional $10 Decline in Crude Oil, if $50.00 Support was Broken was coming next.
Today Crude Oil Futures For Feb 19 NGG, fell another 6 %, to settle at 42.68.
In referencing the chart I have included in this article,
just LOOK at the historic waterfall decline in the price of oil in late 2018.
This decline is now targeting the Jan 2016 Lows around 42.50.
If Crude Oil breaks the 2016 Low, as seen on the chart,
then honestly, I have no quantified opinion at this point
about how far DOWN, the price of Crude Oil could go.
The ramifications of this massive bear market in energy and their accompanying stock prices
will now bring leveraged money traders front and center who may now have to accept delivery of oil
or be forced to sell into a plummeting price market.
if price continues its death spiral decline from here,
say nothing of those who will have hedged and paid near contract highs, Airlines,\ Transportation
some who locked in prices in 2018
some $35 Above the Current Spot Price of Crude Oil.
CLG 42.68 Last.
THE_UNWIND
12/24/18
NEW YORK
on Crude Oil, a market that I identified early..
this past fall as having an almost direct downside bearish correlation with the stock market.
I invite all readers to reference that November 25,2018 article for themselves on this site.
In it, I clearly noted an additional $10 Decline in Crude Oil, if $50.00 Support was Broken was coming next.
Today Crude Oil Futures For Feb 19 NGG, fell another 6 %, to settle at 42.68.
In referencing the chart I have included in this article,
just LOOK at the historic waterfall decline in the price of oil in late 2018.
This decline is now targeting the Jan 2016 Lows around 42.50.
If Crude Oil breaks the 2016 Low, as seen on the chart,
then honestly, I have no quantified opinion at this point
about how far DOWN, the price of Crude Oil could go.
The ramifications of this massive bear market in energy and their accompanying stock prices
will now bring leveraged money traders front and center who may now have to accept delivery of oil
or be forced to sell into a plummeting price market.
if price continues its death spiral decline from here,
say nothing of those who will have hedged and paid near contract highs, Airlines,\ Transportation
some who locked in prices in 2018
some $35 Above the Current Spot Price of Crude Oil.
CLG 42.68 Last.
THE_UNWIND
12/24/18
NEW YORK