Darin Newsom DTN Senior Analyst
Tue Dec 16, 2014 09:28 AM CST

Another Thelma-and-Louise Pattern in Crude Oil

2014's sharp sell-off in crude oil brings to mind the Thelma-and-Louise pattern (driving off a cliff) seen back in 2008. I'm sure most of you recall that move, the one that started with a bearish key reversal on the monthly chart in July after posting a new high of $147.27 and ended with a bullish crossover by monthly stochastics at the end of April 2009.

On the 18th of that December 2008, my Technically Speaking post (can't believe I've been blogging this long) was titled "Crude Oil's Search for Support". I've attached the original ...

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