Connect with us

Economics

Crude Oil Looks To Be Sending Bearish Message This Month!

Crude oil prices rose sharply in 2022 and this has been a major factor in rising consumer prices and inflation. But the past five months have seen oil…

Share this article:

Published

on

This article was originally published by See It Market

Crude oil prices rose sharply in 2022 and this has been a major factor in rising consumer prices and inflation.

But the past five months have seen oil prices pull back… and this has been welcome news at the gas pump!

With the holidays fast approaching, consumers are hoping the oil and gas prices continue to fall.

Today’s chart offers some hope to consumers. Below is a “monthly” chart of crude oil. As you can see, crude looks to be breaking below potential triple support at (1). Should crude oil close the month below support, it would be very bearish.

Crude oil is arguably the most important commodity on the planet. If it breaks down, it would cool inflationary pressures. Stay tuned!

Crude Oil “monthly” Price Chart

crude oil price break down long term sell signal bearish chart november

Note that KimbleCharting is offering a 2 week Free trial to See It Market readers. Just send me an email to [email protected] for details to get set up.

Twitter:  @KimbleCharting

Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.

The post Crude Oil Looks To Be Sending Bearish Message This Month! appeared first on See It Market.



Share this article:

Economics

Argentina Is One of the Most Regulated Countries in the World

In the coming days and weeks, we can expect further, far‐​reaching reform proposals that will go through the Argentine congress.

Share this article:

Published

on

Continue Reading
Economics

Crypto, Crude, & Crap Stocks Rally As Yield Curve Steepens, Rate-Cut Hopes Soar

Crypto, Crude, & Crap Stocks Rally As Yield Curve Steepens, Rate-Cut Hopes Soar

A weird week of macro data – strong jobless claims but…

Share this article:

Published

on

Continue Reading
Economics

Fed Pivot: A Blend of Confidence and Folly

Fed Pivot: Charting a New Course in Economic Strategy Dec 22, 2023 Introduction  In the dynamic world of economics, the Federal Reserve, the central bank…

Share this article:

Published

on

Continue Reading

Trending