Crude Close to Breaking Out

11/18/2009 12:47 pm EST


Thomas Aspray

, Professional Trader & Analyst

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January crude oil remains it its flag formation despite the sharp drop last week that took the OBV below its support. The weekly OBV made new highs in October and continues to favor an upside breakout. January crude (as of noon) is trading above its downtrend, currently at $80.50, therefore, today's close could be important.

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