A JUMP IN OIL PRICES IS CREATING TRADING OPPORTUNITIES IN THESE INVESTMENTS $CRK $USO $CHX $DWT $VLO $UWT $DWT $OIH $CLV19 $XLE $XOP $EPI $UAL $DAL $WLL
An attack on Saudi Arabian oil fields has removed about 5% of global oil supplies. As a result, oil prices have jumped.
It sounds scary for oil and stock investors, but for the time being, the chart tells a different story. All investors, not just oil investors, ought to pay attention to this chart.
Chart
Please click here for an annotated chart of oil futures CLV19.
Note the following:
• From the chart, note the down-sloping trendline.
• Oil gapped open.
• Oil has, as of this writing, broken above the trendline.
• Note from the chart that oil has not touched the resistance level.… Please click here or the title below to read more.
September 16, 2019