Categories

Archives

The Great Depression

  • Benjamin Roth: The Great Depression: A Diary

    Benjamin Roth: The Great Depression: A Diary
    It's all here, times change people don't -the endless govt programs that fail to stimulate the private sector -the ups and downs of the economy, the veterans pension stimulates just as the housing credit did, until of course the money runs out -Roth is a attorney in Youngstown Ohio who kept a diary regarding the economy from 1930 until WW II breaks out, he is objective, candid, and forthright which is more than we get from Washington DC now or then highly recommended

Recent Posts

About

Subscribe to this blog's feed

June 2023

Sun Mon Tue Wed Thu Fri Sat
        1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30  

The View from Abroad

Columnists - Thoughtful Reading

Economic Sites and Blogs

Bought And Paid For

« The Morning After Oil Dropped | Main | The Bear Market Resumes »

December 09, 2015

The Low in Oil in 2008 - Then and Now

Wed Dec 9, 2015

How the Low Occurred in 2008 for Crude Oil

Screen Shot 2015-12-09 at 2.56.47 PM

 

Here is a closer look

Screen Shot 2015-12-09 at 3.00.46 PM

One can observe that it took from the low in December and two more lows in that same sub $35 level to put in a bottom.  But by late April crude had crested three moving averages.  The lowest low occurred in February at $33. Note the two failures in January to cross the 50 day MA. And of course the news now as then is over quite  negative. 

Potential Current Head and Shoulders Pattern

Screen Shot 2015-12-09 at 3.04.20 PM

Crude could easily fail here at 37.75 and fall back to the 33 level of 2009.  Or it could rally here, I am guessing we do not have enough stress in the market quite yet….

Screen Shot 2015-12-09 at 3.30.38 PM

A bit further to go for five of five.

 

Posted at 03:59 PM in Energy |

Comments

The comments to this entry are closed.