The Bigger They Are…

The old saying “the bigger they are, the harder they fall” is often true in charting.  CL, which has been on a non-stop tear since Feb 11, is finally showing a little weakness these past few days.

Earlier this morning, it finally closed the gap at 38.63.  It was a day later than expected, and has broken a few trend lines and channel bottoms in so doing.  It’s a significant drop, as it definitely puts a dent in the trend.2016-03-24 CL 60 0600But, it’s more significant for what it portends for stocks.

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