The All-Out View of Crude Oil's Spike / Commodities / Crude Oil

Let’s put the geopolitical gyrations in oil into aproper perspective by taking a look at the monthly chart. The overall situationhasn’t changed much as crude oil is still trading inside the blue consolidationbelow three very important resistances (the red and orange bearishgaps and the 61.8% Fibonacci retracement), which form the key resistance zonefor the coming week(s).

Additionally, the volume is decreasing on a monthly basis,which raises the probability of a reversal in the near future. Therefore, aslong as there is no successful breakout above the mentioned consolidation andresistances, another move to the downside is very likely.

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Thank you.

Nadia Simmons
Forex & Oil Trading Strategist
Sunshine Profits -Effective Investments through Diligence and Care

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All essays, research andinformation found above represent analyses and opinions of Przemyslaw Radomski,CFA and Sunshine Profits' associates only. As such, it may prove wrong and be asubject to change without notice. Opinions and analyses were based on dataavailable to authors of respective essays at the time of writing. Although theinformation provided above is based on careful research and sources that arebelieved to be accurate, Przemyslaw Radomski, CFA and his associates do notguarantee the accuracy or thoroughness of the data or information reported. Theopinions published above are neither an offer nor a recommendation to purchaseor sell any securities. Mr. Radomski is not a Registered Securities Advisor. Byreading Przemyslaw Radomski's, CFA reports you fully agree that he will not beheld responsible or liable for any decisions you make regarding any informationprovided in these reports. Investing, trading and speculation in any financialmarkets may involve high risk of loss. Przemyslaw Radomski, CFA, SunshineProfits' employees and affiliates as well as members of their families may havea short or long position in any securities, including those mentioned in any ofthe reports or essays, and may make additional purchases and/or sales of thosesecurities without notice.

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