Oil Price Rebound Has Traders Paying AttentionMark Melin
Is the oil rebound real? Oil has been jumping over several near term time horizons, with crude futures up over 1% this afternoon with more than half the U.S. trading day in the rear view mirror today.
It is the longer-term patterns, however, that are more interesting. Particularly on a multi-month basis from the point oil rebounded on February 10, 2016, when crude futures double bottomed near $26 per barrel – one day before the stock market bottomed. But even still, many . . .
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