Comments on: Is the Rally in Crude History Repeating Itself? https://www.moneyinfant.com/rally-crude-history-repeating/ Personal Finance Simplified Tue, 05 Sep 2017 02:59:05 +0000 hourly 1 https://wordpress.org/?v=4.9.1 By: Steve https://www.moneyinfant.com/rally-crude-history-repeating/#comment-1602 Tue, 05 Apr 2016 01:11:59 +0000 https://www.moneyinfant.com/?p=410#comment-1602 With the recent fall in crude after it hit resistance at the $42 level it certainly looks as if you’re right at this moment in time. Crude continues to face headwinds and now that the hopes for a production freeze from the Saudi’s seems to have been removed crude is retracing all of the gains made on the production freeze speculation. It still faces support at the $35 and $31 levels, with the support at $35 being fairly strong. We’re also seeing falling production in the U.S. finally, though inventory levels continue to rise stubbornly.

As you said, we will see over the next 3-6 months. If WTI crude trades back below $26 a barrel the downtrend remains intact, but if we get another leg up before that it could be the signal of a trend change.

]]> By: Derek @ MoneyAhoy https://www.moneyinfant.com/rally-crude-history-repeating/#comment-1600 Tue, 05 Apr 2016 00:06:09 +0000 https://www.moneyinfant.com/?p=410#comment-1600 I disagree completely with “analysts”. I think it was just a bounce and crude is headed much lower along with global markets. We will see over the next 3-6 months 🙂

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