The Market Perspective: No Bottom for Oil Prices Yet

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June 22, 2017

No Bottom for Oil Prices Yet

Post Market Close Thursday June 22, 2017

This is pretty straightforward. At top MACD is still falling, no bottom there yet.

Today was an inside day following the big down day Wednesday. I am not sure that means much.

At bottom the big volume always occurs on DOWN days. So no sign of accumulation yet.

Next stop for price support, $39. But I am not expecting much there either.

Apache

Bell weather energy stock APA fell again today, that is three days in a row down hard. Again volume higher on down days.

And MACD is just rolling over again.

Posted at 05:18 PM in Energy | Permalink

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