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Jim Letourneau's Blog

Investing, Technology, Travel, Geology, Music, Golf. I think that covers it.

Oil Price Technical Analysis Part 2


10 Year - Weekly

I have posted a series of charts showing oil prices over the following time frames:
  1. 15 year
  2. 10 year
  3. 5 year
  4. 2 year
  5. 1 year

This 10 year chart shows 3 main technical levels:

  1. Long term trend line resistance at $55 (red line).
  2. Long term support at $40.
  3. Long term trend channel support at $30 (green line). Prices could drop to this level and oil would still be in a long term uptrend.