Will Crude Oil Reversal Add Fuel to Stock Market Rally?

Chris Kimble

Crude Oil prices have been volatile the past year, swinging between $50 and $65 like a ping pong ball.

But the movement in oil prices has been well worth watching, especially for stock market bulls.

Each of the past 3 times that crude oil has tested the $50 support zone at (1), it has marked a low and subsequent rally in the S&P 500 at (2).

Crude oil is attempting to rally off support for the 4th time at (3).

If Crude Oil rallies yet again, will it push the S&P 500 even higher?

Or will the results be different this time? Stay tuned!

Crude Oil Prices versus S&P 500 Index Chart

crude oil price support trend line analysis chart image investing news february 19

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