{"id":48330,"date":"2018-11-12T13:00:22","date_gmt":"2018-11-12T18:00:22","guid":{"rendered":"https:\/\/www.ino.com\/blog\/?p=48330"},"modified":"2018-11-19T14:00:41","modified_gmt":"2018-11-19T19:00:41","slug":"will-oil-find-support-near-60","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2018\/11\/will-oil-find-support-near-60\/","title":{"rendered":"Will Oil Find Support Near $60?"},"content":{"rendered":"<p>Our research team warned of this move in Crude Oil back on October 7, 2018. At that time, we cautioned that Oil may follow a historical price pattern, moving dramatically lower and that lows near $65 may become the ultimate bottom for that move. Here we are with a price below that level, and many are asking \u201cwhere will it go from here?\u201d.<\/p>\n<p>We believe the support near $65, although clearly broken, may eventually become resistance for a future upside price move. Our proprietary Fibonacci price modeling system is suggesting a new target near $52~53, and we believe this downside move in Oil is far from over at this point.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.ino.com\/img\/sites\/ino\/email\/10155.jpg\" width=\"700\" height=\"440\" alt=\"global climate\" class=\"aligncenter size-full\" \/><\/p>\n<p>The current global climate for Oil is that suppliers are pumping more and more oil into the market at a time when, historically, prices should continue to decline. One of our research tools includes the ability to identify overall bias models for each week, month or quarter. Traditionally, Oil is dramatically weaker in November and relatively flat for December.<!--more--><\/p>\n<p>Analysis for November = 11<\/p>\n<p>Total Monthly Sum: -44.52000000000001 across 36 bars<\/p>\n<p>Analysis for December = 12<\/p>\n<p>Total Monthly Sum: -0.699999999999922 across 36 bars<\/p>\n<p>We believe the price of oil will continue to drift lower to target the $52~53 Fibonacci support level before attempting to find any real price support. This equates to an addition -6 to -8% price decline for skilled traders. We will alert you with a new research post as this downward price movement continues or new research becomes available.<\/p>\n<p>You don\u2019t have to be smart to make money in the stock market, you just need to think differently. That means: we do not equate an \u201cup\u201d market with a \u201cgood\u201d market and vice versa \u2013 all markets present opportunities to make money!<\/p>\n<p>We believe you can always take what the market gives you, and make a CONSISTENT money. <\/p>\n<p>Learn more by visiting <strong><a href=\"https:\/\/broadcast.ino.com\/redirect\/?linkid=4558\" rel=\"noopener\" target=\"_blank\">The Technical Traders<\/a><\/strong>! <\/p>\n<p>Chris Vermeulen<br \/>\n<a href=\"https:\/\/broadcast.ino.com\/redirect\/?linkid=4558\" rel=\"noopener\" target=\"_blank\">Technical Traders Ltd.<\/a><\/p>\n<p><span style=\"font-size: 12px; font-style: italic;\">Disclosure: This article is the opinion of the contributor themselves. The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. This contributor is not receiving compensation for their opinion.<\/span><\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Our research team warned of this move in Crude Oil back on October 7, 2018. At that time, we cautioned that Oil may follow a historical price pattern, moving dramatically lower and that lows near $65 may become the ultimate bottom for that move. Here we are with a price below that level, and many [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":29,"featured_media":48332,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6920],"tags":[3046,28,889,7773,9508],"class_list":["post-48330","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ino-com-contributors","tag-chris-vermeulen","tag-crude-oil","tag-crude-oil-analysis","tag-crude-oil-prices","tag-techinical-analysis"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v23.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Will Oil Find Support Near $60? - INO.com Trader&#039;s Blog<\/title>\n<meta name=\"description\" content=\"The current global climate for oil is that suppliers are pumping more oil into the market at a time when, historically, prices should continue to decline.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wwwtest.ino.com\/blog\/2018\/11\/will-oil-find-support-near-60\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Will Oil Find Support Near $60? - INO.com Trader&#039;s Blog\" \/>\n<meta property=\"og:description\" content=\"The current global climate for oil is that suppliers are pumping more oil into the market at a time when, historically, prices should continue to decline.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wwwtest.ino.com\/blog\/2018\/11\/will-oil-find-support-near-60\/\" \/>\n<meta property=\"og:site_name\" content=\"INO.com Trader&#039;s Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/inocom\/\" \/>\n<meta property=\"article:published_time\" content=\"2018-11-12T18:00:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-11-19T19:00:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wwwtest.ino.com\/blog\/wp-content\/uploads\/2018\/11\/Chart_18-11-09_CL_W_Fib.png\" \/>\n\t<meta property=\"og:image:width\" content=\"700\" \/>\n\t<meta property=\"og:image:height\" content=\"440\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Chris Vermeulen\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Chris Vermeulen\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/wwwtest.ino.com\/blog\/2018\/11\/will-oil-find-support-near-60\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wwwtest.ino.com\/blog\/2018\/11\/will-oil-find-support-near-60\/\"},\"author\":{\"name\":\"Chris Vermeulen\",\"@id\":\"https:\/\/www.ino.com\/blog\/#\/schema\/person\/554a4ea7a1fceeb4afb11e932fffa0de\"},\"headline\":\"Will Oil Find Support Near $60?\",\"datePublished\":\"2018-11-12T18:00:22+00:00\",\"dateModified\":\"2018-11-19T19:00:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/wwwtest.ino.com\/blog\/2018\/11\/will-oil-find-support-near-60\/\"},\"wordCount\":355,\"commentCount\":2,\"publisher\":{\"@id\":\"https:\/\/www.ino.com\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/wwwtest.ino.com\/blog\/2018\/11\/will-oil-find-support-near-60\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wwwtest.ino.com\/blog\/wp-content\/uploads\/2018\/11\/Chart_18-11-09_CL_W_Fib.png\",\"keywords\":[\"Chris Vermeulen\",\"Crude Oil\",\"crude oil analysis\",\"Crude Oil Prices\",\"Techinical Analysis\"],\"articleSection\":[\"INO.com Contributors\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/wwwtest.ino.com\/blog\/2018\/11\/will-oil-find-support-near-60\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wwwtest.ino.com\/blog\/2018\/11\/will-oil-find-support-near-60\/\",\"url\":\"https:\/\/wwwtest.ino.com\/blog\/2018\/11\/will-oil-find-support-near-60\/\",\"name\":\"Will Oil Find Support Near $60? - INO.com Trader&#039;s Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.ino.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/wwwtest.ino.com\/blog\/2018\/11\/will-oil-find-support-near-60\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/wwwtest.ino.com\/blog\/2018\/11\/will-oil-find-support-near-60\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wwwtest.ino.com\/blog\/wp-content\/uploads\/2018\/11\/Chart_18-11-09_CL_W_Fib.png\",\"datePublished\":\"2018-11-12T18:00:22+00:00\",\"dateModified\":\"2018-11-19T19:00:41+00:00\",\"description\":\"The current global climate for oil is that suppliers are pumping more oil into the market at a time when, historically, prices should continue to decline.\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/wwwtest.ino.com\/blog\/2018\/11\/will-oil-find-support-near-60\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wwwtest.ino.com\/blog\/2018\/11\/will-oil-find-support-near-60\/#primaryimage\",\"url\":\"https:\/\/wwwtest.ino.com\/blog\/wp-content\/uploads\/2018\/11\/Chart_18-11-09_CL_W_Fib.png\",\"contentUrl\":\"https:\/\/wwwtest.ino.com\/blog\/wp-content\/uploads\/2018\/11\/Chart_18-11-09_CL_W_Fib.png\",\"width\":700,\"height\":440,\"caption\":\"global climate\"},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.ino.com\/blog\/#website\",\"url\":\"https:\/\/www.ino.com\/blog\/\",\"name\":\"INO.com Trader&#039;s Blog\",\"description\":\"Expert Charts, Trading Tips and Technical Analysis from INO.com\",\"publisher\":{\"@id\":\"https:\/\/www.ino.com\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.ino.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.ino.com\/blog\/#organization\",\"name\":\"INO.com Trader&#039;s Blog\",\"url\":\"https:\/\/www.ino.com\/blog\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.ino.com\/blog\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.ino.com\/blog\/wp-content\/uploads\/2018\/12\/inologo-400.jpg\",\"contentUrl\":\"https:\/\/www.ino.com\/blog\/wp-content\/uploads\/2018\/12\/inologo-400.jpg\",\"width\":400,\"height\":472,\"caption\":\"INO.com Trader&#039;s Blog\"},\"image\":{\"@id\":\"https:\/\/www.ino.com\/blog\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/inocom\/\",\"https:\/\/www.linkedin.com\/company-beta\/1056449\/\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.ino.com\/blog\/#\/schema\/person\/554a4ea7a1fceeb4afb11e932fffa0de\",\"name\":\"Chris Vermeulen\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.ino.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/d11a0897ff10ab20ad0a5aca76a3cc43?s=96&d=identicon&r=pg\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/d11a0897ff10ab20ad0a5aca76a3cc43?s=96&d=identicon&r=pg\",\"caption\":\"Chris Vermeulen\"},\"sameAs\":[\"https:\/\/www.thetechnicaltraders.com\/\"],\"url\":\"https:\/\/wwwtest.ino.com\/blog\/author\/chris-vermeulen\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Will Oil Find Support Near $60? - INO.com Trader&#039;s Blog","description":"The current global climate for oil is that suppliers are pumping more oil into the market at a time when, historically, prices should continue to decline.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/wwwtest.ino.com\/blog\/2018\/11\/will-oil-find-support-near-60\/","og_locale":"en_US","og_type":"article","og_title":"Will Oil Find Support Near $60? - INO.com Trader&#039;s Blog","og_description":"The current global climate for oil is that suppliers are pumping more oil into the market at a time when, historically, prices should continue to decline.","og_url":"https:\/\/wwwtest.ino.com\/blog\/2018\/11\/will-oil-find-support-near-60\/","og_site_name":"INO.com Trader&#039;s Blog","article_publisher":"https:\/\/www.facebook.com\/inocom\/","article_published_time":"2018-11-12T18:00:22+00:00","article_modified_time":"2018-11-19T19:00:41+00:00","og_image":[{"width":700,"height":440,"url":"https:\/\/wwwtest.ino.com\/blog\/wp-content\/uploads\/2018\/11\/Chart_18-11-09_CL_W_Fib.png","type":"image\/png"}],"author":"Chris Vermeulen","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Chris Vermeulen","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/wwwtest.ino.com\/blog\/2018\/11\/will-oil-find-support-near-60\/#article","isPartOf":{"@id":"https:\/\/wwwtest.ino.com\/blog\/2018\/11\/will-oil-find-support-near-60\/"},"author":{"name":"Chris Vermeulen","@id":"https:\/\/www.ino.com\/blog\/#\/schema\/person\/554a4ea7a1fceeb4afb11e932fffa0de"},"headline":"Will Oil Find Support Near $60?","datePublished":"2018-11-12T18:00:22+00:00","dateModified":"2018-11-19T19:00:41+00:00","mainEntityOfPage":{"@id":"https:\/\/wwwtest.ino.com\/blog\/2018\/11\/will-oil-find-support-near-60\/"},"wordCount":355,"commentCount":2,"publisher":{"@id":"https:\/\/www.ino.com\/blog\/#organization"},"image":{"@id":"https:\/\/wwwtest.ino.com\/blog\/2018\/11\/will-oil-find-support-near-60\/#primaryimage"},"thumbnailUrl":"https:\/\/wwwtest.ino.com\/blog\/wp-content\/uploads\/2018\/11\/Chart_18-11-09_CL_W_Fib.png","keywords":["Chris Vermeulen","Crude Oil","crude oil analysis","Crude Oil Prices","Techinical Analysis"],"articleSection":["INO.com Contributors"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/wwwtest.ino.com\/blog\/2018\/11\/will-oil-find-support-near-60\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/wwwtest.ino.com\/blog\/2018\/11\/will-oil-find-support-near-60\/","url":"https:\/\/wwwtest.ino.com\/blog\/2018\/11\/will-oil-find-support-near-60\/","name":"Will Oil Find Support Near $60? - INO.com Trader&#039;s Blog","isPartOf":{"@id":"https:\/\/www.ino.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/wwwtest.ino.com\/blog\/2018\/11\/will-oil-find-support-near-60\/#primaryimage"},"image":{"@id":"https:\/\/wwwtest.ino.com\/blog\/2018\/11\/will-oil-find-support-near-60\/#primaryimage"},"thumbnailUrl":"https:\/\/wwwtest.ino.com\/blog\/wp-content\/uploads\/2018\/11\/Chart_18-11-09_CL_W_Fib.png","datePublished":"2018-11-12T18:00:22+00:00","dateModified":"2018-11-19T19:00:41+00:00","description":"The current global climate for oil is that suppliers are pumping more oil into the market at a time when, historically, prices should continue to decline.","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/wwwtest.ino.com\/blog\/2018\/11\/will-oil-find-support-near-60\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wwwtest.ino.com\/blog\/2018\/11\/will-oil-find-support-near-60\/#primaryimage","url":"https:\/\/wwwtest.ino.com\/blog\/wp-content\/uploads\/2018\/11\/Chart_18-11-09_CL_W_Fib.png","contentUrl":"https:\/\/wwwtest.ino.com\/blog\/wp-content\/uploads\/2018\/11\/Chart_18-11-09_CL_W_Fib.png","width":700,"height":440,"caption":"global climate"},{"@type":"WebSite","@id":"https:\/\/www.ino.com\/blog\/#website","url":"https:\/\/www.ino.com\/blog\/","name":"INO.com Trader&#039;s Blog","description":"Expert Charts, Trading Tips and Technical Analysis from INO.com","publisher":{"@id":"https:\/\/www.ino.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ino.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.ino.com\/blog\/#organization","name":"INO.com Trader&#039;s Blog","url":"https:\/\/www.ino.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ino.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.ino.com\/blog\/wp-content\/uploads\/2018\/12\/inologo-400.jpg","contentUrl":"https:\/\/www.ino.com\/blog\/wp-content\/uploads\/2018\/12\/inologo-400.jpg","width":400,"height":472,"caption":"INO.com Trader&#039;s Blog"},"image":{"@id":"https:\/\/www.ino.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/inocom\/","https:\/\/www.linkedin.com\/company-beta\/1056449\/"]},{"@type":"Person","@id":"https:\/\/www.ino.com\/blog\/#\/schema\/person\/554a4ea7a1fceeb4afb11e932fffa0de","name":"Chris Vermeulen","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ino.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/d11a0897ff10ab20ad0a5aca76a3cc43?s=96&d=identicon&r=pg","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/d11a0897ff10ab20ad0a5aca76a3cc43?s=96&d=identicon&r=pg","caption":"Chris Vermeulen"},"sameAs":["https:\/\/www.thetechnicaltraders.com\/"],"url":"https:\/\/wwwtest.ino.com\/blog\/author\/chris-vermeulen\/"}]}},"_links":{"self":[{"href":"https:\/\/wwwtest.ino.com\/blog\/wp-json\/wp\/v2\/posts\/48330"}],"collection":[{"href":"https:\/\/wwwtest.ino.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wwwtest.ino.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wwwtest.ino.com\/blog\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/wwwtest.ino.com\/blog\/wp-json\/wp\/v2\/comments?post=48330"}],"version-history":[{"count":0,"href":"https:\/\/wwwtest.ino.com\/blog\/wp-json\/wp\/v2\/posts\/48330\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wwwtest.ino.com\/blog\/wp-json\/wp\/v2\/media\/48332"}],"wp:attachment":[{"href":"https:\/\/wwwtest.ino.com\/blog\/wp-json\/wp\/v2\/media?parent=48330"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wwwtest.ino.com\/blog\/wp-json\/wp\/v2\/categories?post=48330"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wwwtest.ino.com\/blog\/wp-json\/wp\/v2\/tags?post=48330"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}