Death Cross in Crude Oil

With a decline of more than 22% since early May, it certainly has not been a good few weeks for the price of crude oil (WTI).  As a result of the steep drop, crude oil’s 50-day moving average (DMA) dropped below its 200-DMA for the first time since August 2011.

Since 1982, oil's 50-day moving average has dropped below its 200-day moving average 20 other times, and in seven of those periods both the 50 and 200-DMAs were both falling as they currently are now.  Earlier today, we sent out a report to Bespoke Premium clients highlighting the performance of crude oil over the following week, month, three months, and six months when the death cross has occurred.  Clients that wish to view this report can click on the link below.  If you are currently not a Bespoke Premium client and wish to gain access, sign up today!

Crude Oil’s 50-DMA Drops Below 200-DMA

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