![](http://photos1.blogger.com/blogger/3426/1040/400/080305%20crude%20boxes.jpg)
Here is an updated hourly chart of September crude oil.
The market has bounced off the top of its box at 62.10 and I believe it is now headed for the bottom of the same box at 57.20. This is probably the first stage of a much bigger and more prolonged drop.
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