The oil price has been in a precipitous decline since falling from $66+ in April to a recent low this morning of $52.22, from where it has since rallied strongly. If this low holds, it will form the channel depicted above. This area seems like a nice risk-reward setup for a possible move back to...Read More
The ratio has been in a wide ranging downtrend channel for a decade, with a countertrend move beginning in early 2016. That move broke its uptrend channel in December, pulled back to retest prior channel support, and has since broken down again on recent trading action. This breakdown is bearish for the ratio, which translates...Read More
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