Crude Oil Breakout Ahead?

10/08/2009 1:26 pm EST


Thomas Aspray

, Professional Trader & Analyst

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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.

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