A Challenge for the Chartists.

[Supreona]

Whats the technical price that oil has to fall through to start its decline. I would assume $135 is the nearest resistance, but "technically" whats the breakdown price, and when it does fall through, where will it settle.

[wallstreetsedge]

its pretty tight.. it would have to break through 130 then 125.. if it does that.. who knows where it stops... it could settle at 120, 115, 110... but its next floor is at about 95-105

imo it keeps going until it reaches 142-145 and starts to settle or turn around

[Supreona]

its pretty tight.. it would have to break through 130 then 125.. if it does that.. who knows where it stops... it could settle at 120, 115, 110... but its next floor is at about 95-105

imo it keeps going until it reaches 142-145 and starts to settle or turn around

Thats sounds about right. I would expect the floor to be a little lower though.

[nickel_buck_fifty]

Here is a chart that I found. May help answer your question.

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