{"id":1060,"date":"2008-10-27T12:39:46","date_gmt":"2008-10-27T17:39:46","guid":{"rendered":"http:\/\/selfinvestors.com\/tradingstocks\/oil\/graph-of-crude-oil-hitting-bullish-trend-line-but-head-shoulders-top\/"},"modified":"2010-08-02T23:57:21","modified_gmt":"2010-08-03T04:57:21","slug":"graph-of-crude-oil-hitting-bullish-trend-line-but-head-shoulders-top","status":"publish","type":"post","link":"https:\/\/selfinvestors.com\/tradingstocks\/oil\/graph-of-crude-oil-hitting-bullish-trend-line-but-head-shoulders-top\/","title":{"rendered":"Graph of Crude Oil: Hitting Bullish Trend Line, But Head & Shoulders Top?"},"content":{"rendered":"

Here’s a long term weekly graph of light crude oil over the last 10 years.\u00a0 You have to go back to 2000\/2001 to see a similar correction but the current correction in crude oil is much more dramatic.\u00a0 On the bullish side of things, crude oil will hit major support at a 10 year bullish trend line around $60\/barrel and could see a significant bounce up to the next level of resistance around 80.\u00a0 It’s buyer beware when oil recovers to $80 though because a big head and shoulders top is forming.\u00a0\u00a0 I have begun getting long oil stocks but will look to take profits if and when crude hits $80.\u00a0 The key is that 10 year trend line if you’re long oil.\u00a0 If it takes out that 10 year trend line we could see much lower crude prices in the coming years.<\/p>\n

\"crude<\/a><\/p>\n

For more on oil and oil etfs see our sister site Oil ETF Central<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Here’s a long term weekly graph of light crude oil over the last 10 years.\u00a0 You have to go back to 2000\/2001 to see a similar correction but the current correction in crude oil is much more dramatic.\u00a0 On the bullish side of things, crude oil will hit major support at a 10 year bullish … Continue reading Graph of Crude Oil: Hitting Bullish Trend Line, But Head & Shoulders Top?<\/span> →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[38],"tags":[],"class_list":["post-1060","post","type-post","status-publish","format-standard","hentry","category-oil"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/selfinvestors.com\/tradingstocks\/wp-json\/wp\/v2\/posts\/1060","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/selfinvestors.com\/tradingstocks\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/selfinvestors.com\/tradingstocks\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/selfinvestors.com\/tradingstocks\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/selfinvestors.com\/tradingstocks\/wp-json\/wp\/v2\/comments?post=1060"}],"version-history":[{"count":0,"href":"https:\/\/selfinvestors.com\/tradingstocks\/wp-json\/wp\/v2\/posts\/1060\/revisions"}],"wp:attachment":[{"href":"https:\/\/selfinvestors.com\/tradingstocks\/wp-json\/wp\/v2\/media?parent=1060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/selfinvestors.com\/tradingstocks\/wp-json\/wp\/v2\/categories?post=1060"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/selfinvestors.com\/tradingstocks\/wp-json\/wp\/v2\/tags?post=1060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}