WTIC Oil Weekly Negative Divergence and S/R

WTIC oil weekly chart showing negative divergence. Note the confluence of the moving averages as well as horizontal support in the 80 to 82 area. Sure seems like a magnet. This would be a contrary view since the majority of folks keep talking $100 and $120 oil. Maybe it will get there but it looks like the 80 to 82 level will be more of a concern before 100. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.