It will be interesting to see what happens on the downside if the $111.50 low of Aug 15 is breached.
That would be pushing crude down to prices not seen since May.
Daily NYMEX Light Sweet Crude Oil Chart
8/26/2008
Daily Crude Oil Chart
We are seeing a real period of consolidation on the daily chart, and with the exception of Aug 21 and 22 we are stuck in a range around the 144 EMA.
It will be interesting to see what happens on the downside if the $111.50 low of Aug 15 is breached.
That would be pushing crude down to prices not seen since May.
Daily NYMEX Light Sweet Crude Oil Chart
It will be interesting to see what happens on the downside if the $111.50 low of Aug 15 is breached.
That would be pushing crude down to prices not seen since May.
Daily NYMEX Light Sweet Crude Oil Chart
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