Crude’s Tight Range
There’s not a lot going on this morning, but oil is kind of interesting, down nearly 2.5% due to concerns that the U.S. producers will be ramping up their output due to stronger prices. For weeks now, oil has been in a very tight range of only about $2. The key, though, is the lower end of that range – about $52 – because, if broken, we could finally see the uptrend snapped and move back into the upper 40s, dragging energy stocks down with it.
Disclosure: None.
thanks for sharing. Happy new year