Wednesday, February 7, 2007

Crude Oil

The bears are getting their act together, just a bit today. I jumped into the short side at $59 and we've gone down below $58 on WTI. So the previous week's pivot high has been taken out (intraday) and given 3 pushes to within at dime of $60 and an inability to cross above $60, chart below says 10 day moving avg of $56.81 would be a good support level IF the bears can keep it together.

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