Energy at Critical Juncture

04/15/2009 9:58 am EST

Focus: COMMODITIES

Thomas Aspray

, Professional Trader & Analyst

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Crude oil prices and the energy sector appear to be near a critical juncture as the June crude oil contract is now testing its daily uptrend. A close below $49 would be a sign of weakness. The RS line on the energy sector has dropped below its WMA following recent underperformance, so the energy sector now bears close watching.

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