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Jesse Livermore
Russia Envisions "Final Destruction of Russian-Norwegian Relations" over Arctic
Russia Envisions "Final Destruction of Russian-Norwegian Relations" over Arctic
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GOLD MARKET WIRE...NEWS AND INFORMATION for GOLD TRADERS AND INVESTORS ....
GOLD MARKET WIRE...NEWS AND INFORMATION for GOLD TRADERS AND INVESTORS ....
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Gold Market Wire

News, analysis and commentary for gold traders and investors

Crude Oil Market

Crude Oil Meets A First Technical Challenge

January 13, 2022 - (Gold Market Wire) - Crude Oil has had quite the run as of late, which has been the reason for our focus on it here. The bulls have met a few small challenges along the way, but now are facing a slightly more serious chart formation.

the crossroads

Crude Oil has certainly had a run in the past month to six weeks... up some 30% from the early December low. Normally, it would be a good time for a rest, but these don't seem like normal times. The close tomorrow will be critical, and, of course, the target is to get that all-important close over $85.

Strategically each individual must decide on their own. Profit taking here in some small form would certainly make sense. The chance to buy back lower is certainly increasing. If the pull back fails to materialise - and, admittedly, that has certainly been the tenor as of late, then one could wait for the signal on Friday before deciding to re-enter shed length. Everyone must decide their own risk tolerance. The market, frankly, looks exhausted by all the action - but this bull seemingly has the ability to garner new energy at will. Of course, a nice, orderly rally, punctuated by pullbacks and somere-energizing sideways motion always helps in the long term.

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