Looks like we just might be widening a bit further on the Brent/WTI spread. If not, today is the day to bet on it narrowing.
Brent forming a bat pattern if it drops to $28 Should apply to WTI as well
UPDATE: Closed at 61.50 EDIT -- ZOOM OUT TO SEE FLAG, take no notice of the Harmonic Pattern This is a clear bearish flag, no doubt about it. Been rebounding in the channel since the start of Jan2015. A break of the lower part of the channel could signal a further fall continuation to previous Supports/Resistances of 54.58, 52.17 and more severely, the Jan...
Friends, Lots of talk at the moment regarding the uncoupling of geo-political events that would have pushed price of oil further up, in contrast to the current sustained decline in price seen in both US domestic and Brent crude oils. Over-production, increased reserves, or political manipulation ... There is a taste for everyone seeking an explanation. OIL...