Quote:
Originally Posted by Enoch Root
As I stated, it is charting. Nothing more.
Personally, I have not changed my spending habits at this point.
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But aren't the charts usually based on some form of fundamental underlying. I mean, people start buying because oil has reached a point where nothing is profitable so supply has to slow down, production is being curtailed etc. That makes the bottom in the chart. People see said bottom and then a bounce of that bottom and make a chart analysis, but the actual bottom was cause by what people are thinking is a fundamental change. Each bounce was caused by something (saud/russ agreeing to not increase production further), then something else (China easing reserves), etc.