Thursday, December 29, 2016

OIL YEAR END REVIEW - 12/29/2016

Weekly View
- Oil has bounced off historical low prices
- Price (in limbo) between U.S. break even entry levels

- Price ending the year near a psychological Low Volume Level

Daily View
- Recent trend has been long

- Price approaching psychological low volume level (watch for change)
- Prices is attempting to break above 1-year value area

30 Minute View
- Price has tested the psychological low volume level once after OPEC announcement
- Price is approaching this level again
- Trend has been Long
- Watch for change