ARTICLE SYNOPSIS...The light crude oil rally has temporarily halted. The temporary bearish rally is likely to create a new buy setup.
ARTICLE SYNOPSIS...West Texas Intermediate Crude is currently enjoying a nice rally, but the advance has reached a resistance zone and further gains could be difficult to come by.
ARTICLE SYNOPSIS...In a previous article entitled "Is The Oil Uptrend Over?" published on 07/23/08, I wrote that oil could fall to as low as $53 per barrel. Today, I am reporting that oil has fallen to a low of $50.44 and a low in oil could be in place.
ARTICLE SYNOPSIS...The declining rally of the Light Crude Oil Index has retraced towards robust supports. Will the index surge or break support?