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After making an intra-day high of $139.89 this morning, crude oil has drifted lower throughout the day, finding a low at about $133. The chart below highlights the upward channel that crude has held since the rally from $90 to $110 that began on February 2nd. From a technical perspective there is now support at $130 and $120, a broken uptrend is most likely to result in the kind of sideways trading seen between October and January.
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Nice article.This crude oil chart will shows the prices that has taken ups and downs.Thanks!!
Posted by: commodities | April 17, 2009 at 02:22 AM