From Chart of the Day website.
With a barrel of oil now able to be had for a mere $48, today's chart presents the current, long-term trend of West Texas Intermediate crude. As today's chart illustrates, crude oil has largely traded within the confines of a long-term upward sloping trend channel since the late 1990s. However, with the dramatic 55% plunge that began back in mid-2014, crude oil has broken below support (green line) of its 17-year trend channel -- a significant turn of events.
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