A Low in Crude?

11/05/2008 10:00 am EST


Thomas Aspray

, Professional Trader & Analyst


Crude oil closed with strong gains Tuesday on strong volume, suggesting that a short-term low is in place. The Demand Index formed a positive divergence and is very close to breaking its downtrend. The weekly analysis is still negative, but a rally to the $82 area and even $88-$90 is possible.

  By clicking submit, you agree to our privacy policy & terms of service.

Related Articles on COMMODITIES

Keyword Image
Brent crude nears $70 on OPEC
03/19/2019 12:21 pm EST

Bullish crude oil fundamentals run into bearish technicals in the Brent contract, notes Fawad Razaqz...