March Crude Oil

• Posted by tradingpoints
• on February 3rd, 2010

I was intrigued with Jim Gobetz @aiki14 ‘s challenge the other day on Stocktwits TV to find a technical reason why the crude market spiked over 2% the other day. The market looked like it was going to break the 200 day MA there were abundant short term bearish posts. In my work, I concentrate on Fib Analysis as taught to me by Carolyn Boroden.

I completely agree with the sentiment that Fundamentals drive prices. All technical analysis is trying to do – is improve the market timing of that decision. So at the risk of being labeled a closet fundamentalist, here is my take on March Crude Oil:

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