Friday, March 20, 2015

Light Crude Finishes at Underside of Resistance on Daily Chart But At Support on Weekly Chart

See charts below for West Texas Intermediate Crude.  

The daily chart shows the end-of-week price is at the underside of resistance and possibly within a steep descending channel. 

Click Chart To Enlarge

While apparently to the contrary, the weekly chart shows the price is still within the support range.  

Click Chart To Enlarge

Perhaps this contradiction will be resolved next week and this will help determine the direction corporate of high yield bonds?

Not Investment Advice | Important Disclaimer: 
The content in this article, including the identification and discussion of any specific security (e.g., bond fund), is NOT meant to be and should NOT be construed and/or used as investment advice. This article is for general information and educational purposes only. Please read the Disclaimers  for in their entirety. The U.S. Securities and Exchange Commission website has guidance on selecting an investment adviser.

Financial Disclosure:
The author/publisher has no position in oil at the time this article was written.

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