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   21st   FEB  2018 - SMALL PART OF UPDATE 



CRUDE CHART!..

Oil prices hit their highest level in nearly two weeks on Monday, lifted by a global equity market recovery and tensions in the Middle East.

Benign stock markets are providing ... as are geopolitical tensions in the Middle East


Trading is expected to be slower early this week [MON - TUES] Monday due to market holidays in the United States and Greater China.

The U.S. oil rig count, an indicator of future production, rose by seven to 798, its highest since April 2015

...

The crude chart is interesting, and we are at cross roads here but what is needed to be said is that 2 weeks ago we broke down from a nice rising channel, and the prices are struggling. Further erosion could be seen in the leading months, and more pressure seen if we sell off back down to the 57 level. A break of 57 would be extremely bearish, and we would then see erosion to the downside most likely! 

 [SEE THE CHART BELOW]. 


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