Friday, August 05, 2011 8:13:02 AM
Light Crude Oil Futures chart (CL) Update
8 hours after I posted the previous chart and oil has taken an overnight round trip down to the aforementioned 62% retracement level and the 200 weekly MA and has returned to a price level above where it was on the previous chart. It had some nice volume for the overnight session.
Is the bottom in? Possibly, but it's too soon to tell.
8 hours after I posted the previous chart and oil has taken an overnight round trip down to the aforementioned 62% retracement level and the 200 weekly MA and has returned to a price level above where it was on the previous chart. It had some nice volume for the overnight session.
Is the bottom in? Possibly, but it's too soon to tell.
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