Crude Oil – Technical Analysis Tuesdays

After making a low near $44 in October, Crude Oil has experienced a significant rally.  Aided by supply shocks playing out in the oil-rich Venezuela plummeting their production, Iranian sanctions, and OPEC+ trimming production, the market has retraced more than 62% of the 3-month decline that began in October 2018.   These stories and many other moving parts will determine the price in the future.  However, as many experienced and intelligent buyers know, these driving forces will only be known to the public after they have been priced in the market—too late for a buyer to effectively manage risk.