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jjfrost

Oil More Downside Suggested on Weekly & May Impact Markets

Short
CFDs on Crude Oil (WTI) (FX:USOIL)  
jjfrost  
FX:USOIL   CFDs on Crude Oil (WTI)
Oil cl_f DWTI UWTI SPDR S&P 500 ETF (SPY) S&P 500 (SPX500) s&p500index
2
0
oil cl_f dwti uwti spy spx500 s&p500index
Oil may retest 50 week moving avg. (bottom of Kumo) or test the Ichimoku base line. Markets may respond to oil in low 40's.

Many oil experts have been claiming oil should turn around in late '16/early '17. The weekly Ichimoku seems to agree. But it also suggest more downside before end of the year.
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