Oil set for the 200-day MA

The best news for the markets is the steady drip of losses in oil prices. Yesterday's resistance breaks and challenges on 50-day MAs will be helped by the void of support in oil.

Other than the reaction low in late April / early May c$110 there isn't a whole lot to prevent oil prices from testing its 200-day MA. This should translate into higher prices for the broader markets.



Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, market alerts and stock charts website

Popular posts from this blog

Nasdaq primed for breakout

S&P "Bull Trap"?

"Black Candlesticks" are a concern for the S&P and Nasdaq

Archive

Show more