Oil Slipping by Gaps

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Commodities have, in fits and starts, been slipping lower in recent months, and on occasion they provide a gap down to make them easier to mark.


Here’s a longer view. Simply stated,  the uptrend since February 11 2016 (oddly, the exact date of the bottom of equites as well) is fully intact, so until and unless the supporting trendline is broken, that uptrend needs to be respected. I’ve marked an important price gap with the horizontal line, which has already worked as a reversal point.

slopechart CL