This chart is as bearish as it gets. The one up day in the recent trading history has been washed away in a sea of red. Selling continues to rock the commodity world and #WTI crude oil closed below 42, at 6.5 year lows. Can the important level of 40 hold? Seeing how many important levels have been broken to the downside - investors must prepare for the reality 40 will *not* hold.
Oil stocks seem to have settled a bit even though crude oil keeps falling. Do the insiders know something I do not? Or are the spiking dividends in oil stocks holding them up from oblivion? COP currently sports a dividend yield near 6% - that's an amazing dividend if it holds and the company isn't forced to cut.
For now, be patient. Watch the next level - 41.
Oil stocks seem to have settled a bit even though crude oil keeps falling. Do the insiders know something I do not? Or are the spiking dividends in oil stocks holding them up from oblivion? COP currently sports a dividend yield near 6% - that's an amazing dividend if it holds and the company isn't forced to cut.
For now, be patient. Watch the next level - 41.