Keep a Close Eye on Crude
Crude has been trading in a narrow bearish channel since the spike highs of March 1.
Earlier this month, after seven weeks of weak trade, the United States Oil Fund (USO) reached key trendline support. After a brief bounce off this area, just above $38.25, crude retested this trendline and is now trading back near the upper band of its 10-week channel. This lower to sideways action has attracted very light trade, especially this month. A pickup in trade followed by a push past the $40.00 area could serve as a powerful upside breakout for black gold....288 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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