Crude and the S&P

Resistance on crude oil comes in the form of a range from 49.21 - 49.63. If 49.63 is broken on a 240-minute basis (10am, 2pm, etc.), there's clear air up to $56 in our humble opinion. If $49.63 holds, however, a trip back down to $43.51 is likely. The broad equity market has been lifted by this recent strength in crude. It will be interesting to see if crude falters or not and if there's a corresponding effect on the S&P.

Posted to Peak Analytics' Direction... on Oct 07, 2015 — 8:10 AM

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