We’ve had a wild ride in crude oil this month haven’t we traders. Earlier this month crude prices were as high as $87 a barrel then they took a nose dive after worries that Europe’s debt crisis could undermine the global economic recovery. It also didn’t help that the EURO was completely weak against the dollar. However, after the large gap lower earlier this month – and a sharp sell off – we have nearly retraced and filled the huge gap. This area will serve as strong resistance for the time being.
Leave A Reply (1 Comment )
The comments are closed.