Friday, November 3, 2017

US Sweet Crude Oil price is about to break major resistant around $55

11/03/2017 03:58:00 PM

US Sweet Crude Oil Price is about to break US$55 resistant level since Oct 2015.




Source: Stockcharts.com

But Brent and Sweet oil price spread is slowly widening (see moving average line in the chart).  That seems to imply $WTIC is lagging $BRENT. As long as $BRENT is up, $WTIC will have potential to chase the $BRENT.