Here is an hourly chart showing pit and electronic trading in July crude oil futures. I last commented on this chart here.
The market has hit 72.80 resistance after completing a three phase rally. I think this means that it is headed back down again and should reach the 66.00 level before another significant rally develops.
1 comment:
Great call on crude prices! Your timing was impeccable. I expect the drop in oil prices to lead to a rally in stocks.
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