Day Trading – The Bullz And Bearz

Crude Oil Futures Chart Analysis

May 19th, 2010

The last two days the crude oil futures chart shows a major break in a trendline that has lasted for about a year now. Although we all know that lines are just that – lines – and that support and resistance is much more of an “area” than a point on a chart, this break is still not a good sign. If this holds true then oil could be headed lower for the rest of the week before making a final retracement higher to re-test the resistance level. A major role is this is also the dollar’s move over the next week.

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