Crude sending a warning sign for the markets?
"Crude sending a warning sign for the markets? "
in the news Crude sending a warning sign for the markets? ? What this all about..... See below.
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Sentiment Trader shows a very interesting chart today.
Crude sending a warning sign for the markets? Right now we have seen the last few days very bad for crude. But is the crude sell off a warning sign for the rest of the market.
We have news about trump who is being blamed for lower crude, but when has the blame game ended. Never!
saudi increasing supply, back track on what they said 4 weeks, ago and next week we have the meetings in SAUDI, so crude and rising crude is going to be the topic.
Right now one can make the argument, energy too small help the market go higher, so that is why you should watch it independent of other charts.
Going into OPEC meetings 22nd june, brent above 60 usd, would be a positive situation.
Late last week, you had friday phenomenon ahead of long weekend, we are not too concerned about this move.
The chart still seems to be in a major uptrend, if you ask us. We might see more selling early this week, but overall the trend that has been intact since FEB this year, has not been broken, so for now that is positive in our eyes.
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