Is Oil About To Turn Higher? This Chart Says Yes!

Oil has been under non-stop pressure for the last few weeks, falling from new $55 to the $47 range. Talk is becoming overly bearish and that may be a great signal to buy. Another signal that oil may be headed up is the stock chart of Apache Corporation (NYSE:APA). The bullish combination of major support stretching back to August 2016 and a bullish inside bar (flag) pattern signals upside on the stock. If Apache Corporation is headed higher, you better believe oil is going to get a bounce as well.

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