Hey folks, hope you are doing well!
Looking at the current oil chart pattern compared to the 2008 financial crisis, we can spot a lot of similarities. The RSI is in the oversold level and the angle of incline is almost identical. The price of oil crashed with the stock market. Currently, the stock market is declining and we may not be able to fully recover to the previous high.
Looking at the current oil chart pattern compared to the 2008 financial crisis, we can spot a lot of similarities. The RSI is in the oversold level and the angle of incline is almost identical. The price of oil crashed with the stock market. Currently, the stock market is declining and we may not be able to fully recover to the previous high.