Spot Light Crude ($WTIC) has been quite volatile the last few weeks with two declines from the 97 area and two bounces off the 92 area. It is possible to draw three trend lines extending up from the mid April low. The mid May lows and third fan line mark support in the 92-93 area.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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