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Welcome and thank you for visiting!

The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

N.B.
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...

Dots

...If the dots don't connect, gather more dots until they do...or, just follow the $$$...

Beach

Beach

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IMPORTANT BLOG POST UPDATES...
* Trade Wars have escalated and now include diplomatic wars

Wednesday, January 06, 2016

What's In Store For Oil?

We can see from the 3-Year Daily comparison chart below that, for the most part, Gold, Platinum and WTI Crude Oil have traded in tandem, although Oil has seen far more volatile swings.

Since December of last year, Gold and Platinum have attempted to stabilize and rally from their 3-year lows, while Oil's attempted rally was very short-lived, and price continues to plummet to new lows...we'll see if today's (Wednesday's) volume spike signals capitulation, or not, as shown on the next chart (5-Year Daily).


Watch for bearish crossovers to occur on the MACD and PMO, along with a lower low on the RSI, to signal further weakness on Oil. Otherwise, we may see an attempt by buyers to step in soon.

If we see a such a rally, particularly if Oil breaks above its major resistance level of 45.00, we'll see whether any serious buying continues in Gold and Platinum, and, if so, whether it is sustainable...especially if Oil breaks and holds above 50.00.