Critical Week for Crude

09/08/2009 1:53 pm EST

Focus: COMMODITIES

Thomas Aspray

, Professional Trader & Analyst

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Crude oil is up over $3 in mid-session trading on Tuesday (9/8), but the October contract needs to close above $75 for an upside breakout. The OBV did confirm the recent highs, but is now testing its WMA and uptrend, so a higher weekly close is critical. The dollar index still looks weak on heavy selling, which is supportive.

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