Latest Chart of Crude Oil

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by Sean Brodrick on August 28, 2009

Crude oil had a weird week. The breakout attempt that began last week failed. But crude looks ready to take a run at overhead resistance again.

1. If crude can break out to the upside, then get above other overhead resistance at 75, it could go to 90.
2. If crude fails and breaks down, I think it could quickly go to 60.

What’s your bet? Mine is higher. I’ve added to the IEO position in Red-Hot Commodity ETFs and I recommended a small-cap Canadian oil fields services stock in Red-Hot Global Small-Caps.