Crude's Monthly Close

08/01/2008 12:00 am EST


Thomas Aspray

, Professional Trader & Analyst

Crude oil's closing level on July 31st should be important. A close below June's lows at 121.60 would suggest a further decline and possibly a test of the 100-110 area. Volume so far this month is lower. Resistance is now strong in the 138-140 area.
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