CL interesting

30 thg 12, 2015

As of now, I see more downward movement for crude. The trend is your friend. HOWEVER...longer term time frames are showing bullish divergence on RSI, and price is sitting at massive support (light green area). So I see two possible scenarios...(1) price continues down and we see a test of the 31 handle, or (2) price respects long term support, breaks the descending trendline, and begins to rally. Only time will tell.