Oil futures broke down out of the uptrend channel started in May and sparked a rally in equities. It remains to be seen how much follow through we will have, if any. But it's clear that oil needs to get back above 59.50 soon if it wants to avoid more selling. Critical support is at 57.10.
click on chart for full size
click on chart for full size
This entry was posted
on Tuesday, June 28, 2005 at 8:52 PM.
