Crude Oil Breakout Ahead?

10/08/2009 1:26 pm EST


Thomas Aspray

, Professional Trader & Analyst

Click to Enlarge

Crude oil has been in a broad trading range since June and in a downward-sloping range over the past six weeks. Crude is strong today (October 8) and two hours before the close is up $2. The On Balance Volume (OBV) has already broken out to the upside, so crude should move to the $77 area, if not higher. Learn more about the OBV in this recent Trading Lesson.

  By clicking submit, you agree to our privacy policy & terms of service.

Related Articles on COMMODITIES

Keyword Image
Top Picks 2019: B2GOLD (BTG)
01/17/2019 5:00 am EST

Gold bottomed in December 2015 and momentum has been shifting to the upside since then, with gold&rs...

Keyword Image
Top Picks 2019: Mene (MENE)
01/15/2019 5:00 am EST

You might not yet have heard the name Mene (Vancouver: MENE), but you could soon enough, especially ...