The Market Perspective: Fresh Lows for Crude

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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

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July 26, 2016

Fresh Lows for Crude

Tuesday July 26, 2016

Crude drops to fresh lows.

We have been anticipating a test of the low 40s and here it is.

Bullish Percent

The daily bullish percent chart has not bottomed yet. Note previous highs in February at 50%.

If the chart takes that level out we could go much lower, for now that is support.

Daily Crude Oil

Here are the next two logical support levels.But anyone with a chart can see this. Strong dollar is not helping here.

XLE the energy ETF is just now coming off a terrific run. XES energy service ETF has not done as well, mostly sideways.

We will update daily given the importance to our readers.

Posted at 08:04 AM in Energy | Permalink

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