After a steep pullback of 10% from $51+ down to $46, oil tested support at its 50-day moving average today and then bounced hard into the weekend.  From the open to the close today, oil rallied nearly 5% to end the week above $48.  You can see the bounce off of the 50-day in the six-month chart of oil below.  Oil bulls will certainly take it!

If you’ve never had a chance to check out Bespoke’s premium stock market research, we’d urge you to do so by starting a 14-day no-obligation free trial today.  If you sign up this weekend, you’ll see our just-published Bespoke Report newsletter at the top of the page!



Print Friendly, PDF & Email