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Tuesday, June 21, 2005
Hourly Crude Oil Boxes
I've been having a hard time with crude oil lately. Here is an hourly chart of August West Texas crude showing the market's position in its hourly price boxes which are $3.00 high. I think the market will eventually make it into the 62.50-63.00 range and meantime reactions should be no more that 1/2 box ($1.50) from high to low.