Gallery: Home Description: October 3, 2018 - Taking a step back to look at the weekly chart of oil exposes a multi-year trading channel posing sharp resistance near the $75.00 area. A breakout would likely lead to a quick run toward $83.00 but we aren’t convinced that will be the case. In fact, the seasonal high in oil often takes place in early-to-mid-October, leaving the current rally vulnerable to both profit taking and annual cycle pressures. Instead, we believe a return to, at minimum, the mid-to-high-$60.00s is on the horizon.
File Size: 233.62 KB Dimensions: 2210x1280 Created: 3 Oct 2018 Updated: 3 Oct 2018