Today’s Chart of the Day was shared in a note from Frank Cappelleri of Instinet. It's a daily candlestick chart of WTI Crude Oil futures. Today, Crude Oil surged 14.56% to $62.88 per barrel. This marks the largest single-day percentage gain for the commodity in over two decades. At this point, the question on many traders minds is; how high can crude continue to rally? Frank points out that the first speed bump that Crude Oil will encounter is the May 2019 highs, around $65 per barrel. In the note, Frank says: "Crude’s gap last evening got very close to the May high…This remains a key resistance zone until broken." For more on this development, check out our latest report.
Chart of the Day - Monday, September 16th, 2019
September 16, 2019
