|With crude oil now trading under $37 dollars a barrel, today's chart presents the current, long-term trend of West Texas Intermediate crude. As today's chart illustrates, crude oil traded within the confines of a long-term upward sloping trend channel since the late 1990s. Today, as a result of a tremendous increase in supply that is not being offset due to a relatively sluggish global economy, crude oil continues to trade within the confines of a steeply downward sloping trend channel. More recently, crude oil has spiked upwards and is now testing resistance of its two-year downward sloping trend channel due in part to capitulation by some US oil producers and a production freeze by Russia and several OPEC members.Notes:
Where should you invest? The answer may surprise you. Find out right now with the exclusive & Barron's recommended charts of Chart of the Day Plus.
Rate today's Chart of the Day
By voting every day you help us get you the charts you want to see.
Quote of the Day"My formula for success? Rise early, work late, strike oil." - John Paul Getty
Events of the DayMarch 12, 2016 - Daylight Saving Time begins (US)
March 17, 2016 - St. Patrick's Day
March 20, 2016 - First day of Spring (Northern Hemisphere)
Stocks of the Day-- Find out which stocks investors are focused on with the most active stocks today.
-- Which stocks are making big money? Find out with the biggest stock gainers today.
-- What are the largest companies? Find out with the largest companies by market cap.
-- Which stocks are the biggest dividend payers? Find out with the highest dividend paying stocks.
-- Interested in blue chip dividends? Check out the 10 highest dividend paying Dow stocks today.
-- Want more big name dividend payers? Try the 10 highest dividend paying large-cap stocks today.
-- You can also review the Dow Jones Industrial Average Companies and 2016 Dogs of the Dow.
ETFs of the Day
-- Find out which ETFs investors are focused on with the most active ETFs today.
-- Which ETFs are making big money? Find out with the best performing ETFs today.
-- Which sectors are outperforming? Find out with the best performing sector ETFs today.
Mailing List Info
Chart of the Day is FREE to anyone who subscribes.
To ensure email delivery of Chart of the Day, add email@example.com to your whitelist.
Journalists and bloggers may post the above free Chart of the Day on their website as long as the chart is unedited and full credit is given with a live, do follow, text link to the Chart of the Day homepage using the following HTML...
If your site provides a list of helpful links, we would appreciate it if you added a link for Chart of the Day at http://www.chartoftheday.com. However, Chart of the Day Plus charts are to be viewed by paying Chart of the Day Plus subscribers only and may not be republished.
Chart of the Day is provided to subscribers without warranty of any kind and accepts no responsibility for its accuracy or for any consequences of its use.