OBV on Crude Positive on March 14th

06/02/2009 9:49 am EST

Focus: COMMODITIES

Thomas Aspray

, Professional Trader & Analyst

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Crude oil started off the week on a strong note and the weekly OBV continues to point to higher prices. The OBV moved above its WMA in March as noted in our Commodity Technician of March 26th (click here for article). A test of the 38% resistance at $77 basis the continuous contract or $83 basis August now looks likely.

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