futurespress's Commentaries
Jan
25
2010
Crude falls to 200 day MA of $73.50
by futurespress
Overall Rating:
Crude Oil has declined from the overcrowded market above $80 and now has sold off to the 200 day moving average of $73.50. This is a very critical support area and with rising inventories and a strengthening dollar it looks like it is only a matter of time that the $73.50 mark gets broken. Unemployment still unhealthy and job creation at an all time low is not good for the energy sector.
Tags: energies
