So I updated the chart I posted last week with a slight modification being where I have placed the 2 on the lower channel. If short term history is anything to show us of what may happen in crude, we could have a date with the mid 30's in the near future. Although this Channel is taking a lot longer to progress, the break of the 46.50-46.70 was a big deal as 5 daily candles in a row closed above or bounced off of it.
It may be longer, but I do anticipate another bounce at the lower end of the channel which will most likely be the cause of an oversold bounce.
Jesterx - Stop Losses Rule!
