Monday, January 26, 2009

Crude Oil Reversal Sends Prices Higher

Friday, I received a reversal signal for crude oil, and today confirms that signal with prices moving higher. The intraday chart, above, shows prices surging today. The daily chart (below) showed a reversal late last week. I am keeping a very tight stop, however. As long as the economy remains weak, the potential upside for crude oil requires close, tight risk management!