The Risk / Reward For Crude Oil For July, Third Quarter And Rest Of 2017
Nymex Crude Oil will have a positive weekly chart given a close this week above its five-week modified moving average of $46.59. My annual pivot is $47.80 with a monthly risky level of $53.43. My quarterly and semiannual value levels are $32.63 and $25.40, respectively.
On June 21 I wrote,"2 Oil Giants Set to Beat Energy, Utilities Sector ETFs " and called on shorts to be covered at my first half value level of $43.04, which was doable between June 21 and June 26.