https://eresearch.fidelity.com/eresearch/goto/evaluate/snapshot.jhtml?symbols=CVX&type=sq-NavBar
oil stocks rolling over since their high a few months ago. are we going to go down and fill that big gap?
what does this say about where oil is going over the next few months?
i wonder if this is telling us that the dems in congress will Not get their big 3.5 trll package thru the senate.
Thanks bear!
On the charts, looks like an island, gap and crap exhaustion low at the bottom of a move lower to start this week..........pretty dang powerful reversal pattern!
The overall trend is still lower..barely, as we are on the verge of violating it and need to close solidly over some recent prices just above this, including around 98.51, previous mega support.
The recent lows, from late last week, were also right at previous resistance that held.
CLV futures are very strong this week.
https://eresearch.fidelity.com/eresearch/goto/evaluate/snapshot.jhtml?symbols=CVX&type=sq-NavBar
Today at least, the hurricane threat is spiking oil higher.
Previous post on oil from Patrick: