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Kensho Stats: Oil 'golden cross' not that golden

Oil Golden Cross
123ArtistImages | Getty Images

Chart analysts got excited about the action in crude oil Tuesday as its 50-day moving average traded above its 200-day moving average, forming a 'golden cross' that's supposed to mark a change in long-term trend. Is this really the end of the two-year downturn in crude?

10-year oil chart

Source: FactSet

Using data from Kensho, an analytics tool used by hedge funds, CNBC Pro searched for what happened to oil and other financial markets one month after oil displayed a 'golden cross' formation.

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