Is Crude’s Rebound Over?

07/29/2009 10:09 am EST

Focus: COMMODITIES

Thomas Aspray

, Professional Trader & Analyst

chart
Click to Enlarge

September crude oil has rallied throughout the past two weeks and tested resistance at $69 before closing lower on Tuesday. Momentum appears to have topped, but a lower close today would confirm. First chart and retracement support lies just below $60, with stronger support in the $54-$56 area. Longer-term analysis is still positive.

Related Articles on COMMODITIES

Keyword Image
Tech Talk and Two Gold Buys
08/16/2018 5:00 am EST

We recommend keeping your gold positions. It seems clear gold is ready for some upside, asserts Omar...