WTI and Brent weekly chart

No celebrations in the oil patch

WTI and Brent weekly chart showing the break below 55 for WTI and 60 for Brent.

WTI and Brent weekly chart showing the intermediate downtrend. WTI could not hold above 55 for the year-end. Brent could not hold above 60. One can only conclude that the price of both grades is going lower unless there is a significant geopolitical event.

Reference my post from November 28, 2014: Barring a major supply disruption, Brent is heading lower


“It is all about probabilities”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

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