Chart Talk {04.20.17}

Here are two charts on the commodity oil as represented by West Texas Intermediate crude or WTI.  Charts are from Tradingview.com and you can double-click on these to make them larger if you would like.  Note that while I am do not own oil I own oil company related ETFs for clients and in personal accounts and would consider adding to these positions on any further weakness in crude.  Please note these positions can change at any time without notice here or by any other means of electronic or written transmission.  The first chart looks at what has recently happened to WTI.

This next one shows WTI when we step out a little in regards to time and look at crude on a longer term basis.

One thing to note on this 2nd chart is that you are likely going to get some resolution on the trend in oil in the coming months as either the bullish trendline dating back to early last year is going to be violated or oil is going to move through that long term resistance shown above in green.  All you really have to do is wait and see.  WTI is running out of room to trade in between.  Of course I have no idea on how it's going to resolve itself and I leave the guessing to you.

Back Monday.