Oil Prices Suffer First 'Death Cross' Since 2014 Collapse

Tyler Durden's picture

For the first time since September 2014, after which oil prices collapsed almost 75%, Brent and WTI Crude futures both just flashed a 'death cross' signal as the 50-day moving-average crossed below the 200-day moving-average.

The crossover is typically seen a loss of short-term momentum and last occurred in the second half of 2014, when prices collapsed due to oversupply amid surging U.S. shale oil production.

 

As Bloomberg notes, OPEC and its partners will be hoping their efforts to curb output will be enough to support prices and counteract any fears of growing downside risk.

 

However, this morning's news of "real" OPEC production may raise more doubts about the cartel's commitment (and going forward, the Qatar debacle won't help).

 

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Sick Underbelly's picture

How long after a death cross do you wait before shorting?  2 days?

Black Forest's picture

Wait for the Fertility Cross, and short it two days in advance.

open calender's picture

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silverer's picture

I push my truck whenever I can. It's good exercise, and prepares me for pushing an oxcart.

BingoBoggins's picture

What, are you nuts?

"Pull it."

Stormtrooper's picture

Yeah, and with your teeth!  Helps strenthen the jaw for when you have to survive on nuts and berries.

Peanut Butter Engineer's picture

Hate to ask but what happen to your Ox?

Osmium's picture

I usually wait for the "Golden Triangle" formation.

Rainman's picture

Saudis need to get prices up big to pay for their $ 100B in murican-made war toys. 

http://foxtrotalpha.jalopnik.com/here-s-what-saudi-arabia-is-buying-in-its-110-billion-1795442540

Zepper's picture

Dont worry the Fed + OPEC & Friends will make sure oil does not go below $40 a barrel. You basically had Russia say thats where its heading. 

 

What a fixed world we live in... This world is like a pool table... and every fucking pocket is covered by corrupte governments, central banks, syndicates, corporations and individuals... it does not matter how many balls there are on the table, they all end up in the same pockets of these fucking criminal elements. Its all FUCKING FIXED! Free markets... ya right. 

taketheredpill's picture

 

 

 

What about Death Cross in late 2006, late 2011, late 2012, after which saw large RALLIES?

 

Black Forest's picture

<removed by Russian hackers>

 

Non-Corporate Entity's picture

The return of the "death cross"...oh, the horror.

venturen's picture

oil should never have been over $30 NEVER

ludwigvmises's picture

Short CL oil and holding. Let's see if this pig collapses again.

venturen's picture

Why don't the saudi just print 10 quinttrillion and buy dollars, then buy oil. It is working for the Japanese and American stock market

Kefeer's picture

Bullish - some gas prices are near the $2.10 per gallon mark; TPTB cannot allow that.  Will be up 40-50 cents a gallon by the end of next week.