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also keep in mind that this is a seasonally weak period for oil due to the lack of demand from some refineries caused by year-end tax on inventories. This...plus the current short-term downtrend on the chart is a headwind.
well....previous/recent trading range was (basically)$45-50 (+ or - 1.50); but now......"oh that pregnant pause" just like the commodity......it seems to be basing for new trading range of $40-$45. IF goes below Aug flash-crash support of approx. $38.xx then "look out below!!!"
30, it is a bear market. A real bear market, not a bear market with the Fed helping to ease the pain. It is a almost the opposite with the Fed being on the dollar's side with the rate hikes.