This is the inverted price of Oil…this means every up equals down and every down move is really an up move in the live market. I find it very useful to look at charts in inverted form (I believe that Tim has also found this useful) making a bearish chart bullish and a bullish chart bearish to help recalibrate bias.
On the chart I refer to a breakout of -82. That really means a breakdown below 82 in real life – could be rather bearish for oil. That's the inverted interpration based of the chart and in polarity with the real market.
It is useful to look at this chart when faced with predictions and expectations of Oil moving to new highs…The odds on that look less than certain…
for a more detailled view click here.
