Thursday Oil Market Round-Up

Let's tale a look at the recent sell-off. Click for a larger image.



A.) Prices formed a three day broadening pattern -- a topping/reversal pattern

B.)Prices gapped down twice after forming the top.

C.) Prices hit resistance right around the 200 day EMA

D.) Prices have continued moving lower after moving through the 200 day EMA.

In addition, consider this chart:


A.) Prices are consolidating in a triangle pattern right around the 200 day EMA.