Thursday, September 17, 2009

Crude Oil

Crude Oil Daily Chart

Looks like a triangle in the making. Breakout point is 75.00. Breakdown point is 69.00.

Crude Oil Weekly Chart

The trend is still up. A break of 75.00 means that it will challenge the next resistance at 80.00. Support at 69.00 and 60.00.

A few Malaysian oil and gas counters have moved. Be prepared for the rest if the breakout happens.

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