Crude Oil- Could be topping this month

by Chris Kimble


This chart looks at Crude Oil on a monthly basis over the past 15-years.

Crude experienced a large decline (75%+) from the highs in 2011 to the lows in 2016. We applied Fibonacci to this key highs and lows at each (1) above.

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The rally from the lows in 2016 has Crude Oil testing the 50% retracement level of the large 5-year decline at each (2).

Joe Friday Just The Facts– Crude Oil could be creating a bearish reversal pattern this month at (2).

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If Crude is topping at the 50% level, it could impact the overall commodities sector and the stock market as well.



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