Watch Crude Oil

08/21/2009 9:43 am EST

Focus: STRATEGIES

Thomas Aspray

, Professional Trader & Analyst

chart
Click to Enlarge

The stock market has been closely following the action in the crude oil futures. Crude was down sharply on Monday, breaking the short-term uptrend intraday. Now crude is back to testing the recent highs, and a strong close for October oil futures above $74 would be very bullish and positive for stocks. Key support is now at $69.40-$70.

Related Articles on STRATEGIES