Crude Breaks Above Inverse Head and Shoulders Resistance

An inverse head and shoulders pattern formed on the weekly chart of the Light Crude Oil – continuous contract ($WTIC) over the last 18 months and I’ve highlighted its development over time. The commodity has now broken above the reversal pattern neckline and, after what appears to be a successful retest of that resistance-turned-support level,… Read More »

Reader Request: American Airlines Group

The strong rally in the airline stocks, reflected in the Airline Index ($XAL), is generally attributed to the drop in oil prices. Actually, the Airline Index and the price of crude oil ($WTIC) seem well correlated in the months leading up to the October spike. The index overall however, has done well this year and… Read More »