Oil fell pretty much nonstop from October 3rd until November 23rd. At that time, I pointed out the magenta horizontal (shown below) as well as the blue descending trendline, each of which I felt would act as support. So far they seem to have done so, and as rapidly as oil fell, the “bounce” could be just as swift (although certainly not with enough power to recover all those losses).
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
First of all, gold and silver members should know that an updated post about the coolest and most amazing chart I’ve ever done in my life is awaiting you; by now, you should have received an email bringing that to your attention.
A few weeks ago, in the aftermath of the revelation that Saudi Arabia likes to chop up bodies of journalists who threaten their regime, the “experts” were breathless with price projections.
Crude oil has been sailing above its supporting trendline for a couple of years now. I am, of course, watching with great interest to see if we get a break of that uptrend.