{"id":13662,"date":"2016-08-05T18:45:09","date_gmt":"2016-08-05T22:45:09","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=13662"},"modified":"2016-08-05T18:45:09","modified_gmt":"2016-08-05T22:45:09","slug":"crude-testing-40","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2016\/08\/05\/crude-testing-40\/","title":{"rendered":"Crude testing $40"},"content":{"rendered":"<p>Light Crude (September contract) is testing medium-term support at $40\/barrel. Breach of support would signal a test of primary support at $33 to $34. Respect of support, on the other hand, would indicate another test of resistance at $50. And breakout above $50 would signal a primary up-trend.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" alt=\"WTI Light Crude September Contract\" title=\"WTI Light Crude September Contract\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2016\/2016-08-05-crude.png?w=525&#038;ssl=1\" \/><\/p>\n<p>The long tail and strong volume at $40 suggest that support may hold. But I wouldn&#8217;t bet the house on it. Especially when <a href=\"https:\/\/goldstocksforex.com\/2016\/08\/05\/gasoline-stocks-rise\/\">gasoline inventories have surged<\/a>, the <a href=\"https:\/\/goldstocksforex.com\/2016\/08\/05\/the-daily-shot-august-3-global-macro-currents\/\">US rig count is rising<\/a> &#8230;..and <a href=\"https:\/\/goldstocksforex.com\/2016\/08\/05\/oil-crashes-to-41-zero-hedge\/\">demand is set to fall<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Light Crude (September contract) is testing medium-term support at $40\/barrel. Breach of support would signal a test of primary support at $33 to $34. Respect of support, on the other hand, would indicate another test of resistance at $50. And breakout above $50 would signal a primary up-trend. The long tail and strong volume at &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2016\/08\/05\/crude-testing-40\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Crude testing $40&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[44,34],"tags":[],"class_list":["post-13662","post","type-post","status-publish","format-standard","hentry","category-crude-oil-natural-gas","category-us-canada-countries-regions"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Crude testing $40 - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crude testing $40 - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Light Crude (September contract) is testing medium-term support at $40\/barrel. Breach of support would signal a test of primary support at $33 to $34. Respect of support, on the other hand, would indicate another test of resistance at $50. And breakout above $50 would signal a primary up-trend. The long tail and strong volume at &hellip; Continue reading &quot;Crude testing $40&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2016\/08\/05\/crude-testing-40\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:published_time\" content=\"2016-08-05T22:45:09+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/static.incrediblecharts.com\/images\/2016\/2016-08-05-crude.png\" \/>\n<meta name=\"author\" content=\"ColinTwiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"ColinTwiggs\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2016\\\/08\\\/05\\\/crude-testing-40\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2016\\\/08\\\/05\\\/crude-testing-40\\\/\"},\"author\":{\"name\":\"ColinTwiggs\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/cb072791ac83e8bae585007c133d54a5\"},\"headline\":\"Crude testing $40\",\"datePublished\":\"2016-08-05T22:45:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2016\\\/08\\\/05\\\/crude-testing-40\\\/\"},\"wordCount\":84,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2016\\\/08\\\/05\\\/crude-testing-40\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2016\\\/2016-08-05-crude.png\",\"articleSection\":[\"Crude Oil &amp; Natural Gas\",\"US &amp; Canada\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2016\\\/08\\\/05\\\/crude-testing-40\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2016\\\/08\\\/05\\\/crude-testing-40\\\/\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2016\\\/08\\\/05\\\/crude-testing-40\\\/\",\"name\":\"Crude testing $40 - the patient investor\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2016\\\/08\\\/05\\\/crude-testing-40\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2016\\\/08\\\/05\\\/crude-testing-40\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2016\\\/2016-08-05-crude.png\",\"datePublished\":\"2016-08-05T22:45:09+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2016\\\/08\\\/05\\\/crude-testing-40\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2016\\\/08\\\/05\\\/crude-testing-40\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2016\\\/08\\\/05\\\/crude-testing-40\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2016\\\/2016-08-05-crude.png\",\"contentUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2016\\\/2016-08-05-crude.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2016\\\/08\\\/05\\\/crude-testing-40\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/thepatientinvestor.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Crude testing $40\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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Breach of support would signal a test of primary support at $33 to $34. Respect of support, on the other hand, would indicate another test of resistance at $50. And breakout above $50 would signal a primary up-trend. 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Follow-through below $44.00 would signal another test of primary support at $40. Supply continues to exceed demand with the Saudis and Russians cranking up production and cutting prices to secure key markets in the US\u2026","rel":"","context":"In &quot;Crude Oil &amp; Natural Gas&quot;","block_context":{"text":"Crude Oil &amp; Natural Gas","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/crude-oil-natural-gas\/"},"img":{"alt_text":"WTI Light Crude December 2015 Futures","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-10-26-crude.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-10-26-crude.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-10-26-crude.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":12614,"url":"https:\/\/thepatientinvestor.com\/index.php\/2015\/11\/27\/crude-testing-support-at-40barrel\/","url_meta":{"origin":13662,"position":1},"title":"Crude testing support at $40\/barrel","author":"ColinTwiggs","date":"November 27, 2015","format":false,"excerpt":"Crude futures (Light Crude January 2016 - CLF2016) are headed for another test of primary support at $40\/barrel. Breach is likely and would signal another decline, with a target of $30\/barrel*. * Target calculation: 40 - ( 50 - 40 ) = 30","rel":"","context":"In &quot;Crude Oil &amp; Natural Gas&quot;","block_context":{"text":"Crude Oil &amp; Natural Gas","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/crude-oil-natural-gas\/"},"img":{"alt_text":"WTI Light Crude January 2016 Futures","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-11-28-crude.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-11-28-crude.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-11-28-crude.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":12520,"url":"https:\/\/thepatientinvestor.com\/index.php\/2015\/11\/17\/crude-tests-40barrel\/","url_meta":{"origin":13662,"position":2},"title":"Crude tests $40\/barrel","author":"ColinTwiggs","date":"November 17, 2015","format":false,"excerpt":"Crude futures (Light Crude December 2015 - CLZ2015) are testing primary support at $40\/barrel. Breach is likely -- and would signal a decline to $30*. Respect of support would indicate another bear rally. * Target calculation: 40 - ( 50 - 40 ) = 30","rel":"","context":"In &quot;Crude Oil &amp; Natural Gas&quot;","block_context":{"text":"Crude Oil &amp; Natural Gas","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/crude-oil-natural-gas\/"},"img":{"alt_text":"WTI Light Crude December 2015 Futures","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-11-17-crude.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-11-17-crude.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2015\/2015-11-17-crude.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":15669,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/08\/04\/gold-responds-to-crude-strength-and-dollar-support\/","url_meta":{"origin":13662,"position":3},"title":"Gold responds to crude strength and Dollar support","author":"ColinTwiggs","date":"August 4, 2017","format":false,"excerpt":"The Dollar Index is testing primary support between 92 and 93. Breach of support would offer a long-term target between 83 and 84* -- a bullish sign for gold. *Target: 93 - ( 103 - 93 ) = 83 Crude continues to test resistance at $50\/barrel. Respect would indicate another\u2026","rel":"","context":"In &quot;Crude Oil &amp; Natural Gas&quot;","block_context":{"text":"Crude Oil &amp; Natural Gas","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/crude-oil-natural-gas\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15648,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/07\/28\/gold-rallies-as-crude-rises-and-dollar-falls\/","url_meta":{"origin":13662,"position":4},"title":"Gold rallies as Crude rises and Dollar falls","author":"ColinTwiggs","date":"July 28, 2017","format":false,"excerpt":"The Dollar Index is testing primary support between 92 and 93; bullish for gold. Breach of support would offer a long-term target between 83 and 84*. *Target: 93 - ( 103 - 93 ) = 83 Crude rallied strongly this week, with Nymex light crude testing its upper trend channel\u2026","rel":"","context":"In &quot;Crude Oil &amp; Natural Gas&quot;","block_context":{"text":"Crude Oil &amp; Natural Gas","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/crude-oil-natural-gas\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10606,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/08\/14\/crude-and-commodities-weaken\/","url_meta":{"origin":13662,"position":5},"title":"Crude and commodities weaken","author":"ColinTwiggs","date":"August 14, 2014","format":false,"excerpt":"Crude oil prices are falling. Nymex Light Crude broke support at $98\/barrel, signaling a test of primary support at $92\/barrel, while Brent Crude is testing primary support at $104. Retreat of 13-week Twiggs Momentum below zero already warns of a Nymex (CL) down-trend. Commodity prices are being dragged down, with\u2026","rel":"","context":"In &quot;Commodities&quot;","block_context":{"text":"Commodities","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/commodities-gold-commodities\/"},"img":{"alt_text":"Nymex WTI Crude","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-08-14-crude.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-08-14-crude.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-08-14-crude.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/13662","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=13662"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/13662\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=13662"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=13662"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=13662"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}