Sean Brodrick -

Latest Chart of Crude Oil

by Sean Brodrick on August 28, 2009

Crude oil had a weird week. The breakout attempt that began last week failed.  But crude looks ready to take a run at overhead resistance again.

crude-oil Latest Chart of Crude Oil

  1. If crude can break out to the upside, then get above other overhead resistance at 75, it could go to 90.
  2. If crude fails and breaks down, I think it could quickly go to 60.

What’s your bet?  Mine is higher.  I’ve added to the IEO position in Red-Hot Commodity ETFs and I recommended a small-cap Canadian oil fields services stock in Red-Hot Global Small-Caps.

More on this topic (What's this?) Read more on Oil at Wikinvest

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{ 2 comments… read them below or add one }

Bill Bartmann-_ 09.10.09 at 6:06 am

Excellent site, keep up the good work

Sean Brodrick 09.10.09 at 7:57 am

Thanks, Bill. Please stop by again.

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