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Oil: A key Indicator of recession?
Traditionally, oil has an inverse relationship with the stock market. As oil prices rise, it can lead to higher production costs for companies, impacting their proftability and potentially causing stock prices to fall. Conversley, lower oil prices reduce production costs benefitting various sectors, boosting stock prices.
However, lower oil prices could also be bad for stock as decreased demand could indicate an economic slowdown. Businesses may cut back on production and consumers may reduce spending, impacting their profitability causing stock prices to fall.
My chart analysis shows 2 signs that oil could stay lower for longer; A head and shoulders pattern and I'm highlighting that the price broke down below the 200 day MA on Nov.7th, falling by 5 percent on that day.
However, lower oil prices could also be bad for stock as decreased demand could indicate an economic slowdown. Businesses may cut back on production and consumers may reduce spending, impacting their profitability causing stock prices to fall.
My chart analysis shows 2 signs that oil could stay lower for longer; A head and shoulders pattern and I'm highlighting that the price broke down below the 200 day MA on Nov.7th, falling by 5 percent on that day.
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