The Energy Sector Could Be In For Some Reversals

November 14, 2018

Chris Vermeulen, Founder of The Technical Traders shares his thoughts on the energy sector. With Oil in full breakdown mode it is at strong support so a short term reversal could be in the near future. As for natural gas, it is trading at levels not seen since 2014. A reversal here is also very possible. Chris shares some of the levels he is watching.

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    Nov 14, 2018 14:29 AM

    Big picture, gold looks a lot better than oil but short term, it is critically overbought:

    Nov 14, 2018 14:25 PM

    Bitcoin crashes below $6,000, lowest in one year, Ethereum, Ripple, follow

    Yohay Elam FXStreet – Nov 14, 2018

    “BTC/USD is falling below the October low of $6,033 and trades at the lowest level since August 14th, exactly three months ago. Volatility in cryptocurrencies has risen and digital coins are losing value quite fast.”

    “Bitcoin is falling fast and has already dropped below $5,770 and It is now trading at the lowest levels since November 2017 and pushing lower towards those seen in October.”

    “FXStreet cryptocurrency analyst Tomas Salles notes that the move opens the door to $4,500:”

    “$5,770 is the line in the sand for Bitcoin. It is the lowest point in 2018. A loss of this level opens the door to levels to $4,500, last seen over a year ago.”

      Nov 14, 2018 14:27 PM

      It would seem that family discussions about cryptocurrencies, while gathered around the Thanksgiving table, will be a little more subdued this year compared to last year.