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Barron’s is suggesting to buy some oil stocks after the huge decline over the past few months. Not a thing wrong with the idea of buying low and hoping to sell higher.
The historic decline in Crude Oil since this past summer, 2nd largest one year decline in 30-years, is now facing an important support line at (1) above.
If rising support at (1) fails to hold, Crude could find itself testing its long-term sideways trading channel, which comes into play at (2), around the $40 zone.
See more of our research…..HERE