Friday, February 19, 2010

Crude Oil gives bullish signs

Daily chart says it all:

RSI trending up.

DI & MACD both gave bullish crossovers.

Since the test of the 200-DMA at $68 Crude is 12% and solidly moving in a tight trend channel.

I included an interesting trendline which however gives a warning signal. I will be looking for a close above it for a confirmation of the Bullish scenario.

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