Friday, July 3, 2009

Crude Oil Puts In A Double Top


LOTS of technicals to follow on this chart.
Early this year there was a BUY signal, the recent "Double Top" Sell signal.
Next levels to be tested: 50ma/ 38.2% Fibonacci Retracement $64 followed by 200ma $57 level. Note* With the US Dollar @ 80~ Oil 7 months ago was in the mid $40s


*Click on chart to enlarge image

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