Today our classroom permanently moved to CHAFEE 219. Please note this.
As you read your technical analysis material, go to StockCharts.com and practice by working with the graph for oil (symbol $WTIC). Where is the trend? As people ask where oil price is likely to go, you can use the chart and see the past levels of support. When a price graph is falling, LOOK TO THE LEFT and find a previous level of support. What price is it? Annotate the graph. My handout says how to print this if you want to keep a record of this.
Note that on StockCharts.com, you can use either daily or weekly time frames. Perform the above analysis on the daily chart, note past support, then switch the frequency to weekly. Do the same thing. Where is weekly support?
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