Crude Oil – Trend Change

07/16/2008 12:00 am EST


Thomas Aspray

, Professional Trader & Analyst

Crude oil closed over $6 lower Tuesday which got the market's attention. The daily chart shows next support in the $135 area with more important, along with the 50 day MA, in the $132 area. The OBV did confirm the recent highs which is not consistent with a significant top.

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