Crude Trying To Bottom

10/09/2008 9:36 am EST

Focus: COMMODITIES

Thomas Aspray

, Professional Trader & Analyst

chart

Crude has dropped another $15 over the past two weeks, but is trying to form a short-term bottom. The intermediate-term analysis is still negative but a 38% rebound could take Nov. Crude back to the $110 area. The daily RSI shows a positive divergence but needs to move above 50 to signal a low.

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