Monday, August 11, 2008

Crude Oil Testing Its Major Trendline



Crude Oil has been falling rapidly over the past few weeks and is now testing a significant trendline on the weekly chart. It will be interesting to see if this support line can hold. I personally would love to see oil prices collapse even further so that I won't get heartburn anymore every time I visit the gas station!

1 comment:

Darwin said...

Kevin, Oil stocks seem to be telling....stabalizing and ready to rally? Bought BP Aug 60's as some of these LOOK like they're pounding (trying) out a bottom (for the moment). IMO only as you can tell from my eagerness to play lotto.

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