Crude Oil Acting Well

11/05/2009 9:19 am EST


Thomas Aspray

, Professional Trader & Analyst

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January crude oil corrected from the highs at $82.58 but has again turned higher. The upside breakout last month was forecast by the OBV. The OBV still looks positive as it is acting stronger than prices. Next Fibonacci projection target is at $85.30 with long-term resistance at $90. Good support at $75-$77.50.

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