| |
| |
Yesterday I posted my weekly update on gasoline prices against a backdrop of West Texas Crude. Today Chris Kimble gives us a technical look at Crude over a couple of time frames. If Crude is indeed pulling back, that should foreshadow some relief at the gas pump.
Chris comments: Challenges in the Mideast and Crude declines almost 10% in two weeks! Who would have thought?
Crude is facing 28-year rising channel resistance on 2/1 and now it appears that the 9-month rising channel resistance looks to be giving way!
Is a global macro message being sent at the top of this channel?
|
|
