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Chart Of The Day: Crude Oil Has Hit Bottom

Published 05/06/2015, 04:13 AM
Updated 07/09/2023, 06:31 AM
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Today's chart of the day focuses on the long term price and performance of Crude Oil. The crash that started in June of 2014 finally turned into a crescendo in January of this year. Crude Oil has most likely found a bottom on a long term support line, as it became incredibly oversold.

However, the question now is what will the recovery look like? Most market experts are on record saying that $100 per barrel will not be seen again. What do you think? A V shaped recovery, U shaped recovery or an L shaped bear market?

Chart Of The Day: Brent Crude Oil price has most likely bottomed out!

Brent vs 200DMA vs 1-Y Performance 1996-2015

Source: Short Side of Long

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