Are you ready for the next major move in crude oil?

Market Pulse: Dec 19, 2011

February 2012 crude oil opened last week at 99.76 and closed the week at 93.75. Looking back to the first trading day of 2011, Jan. 3, crude opened at 91.31.

On the daily chart below, the technicals show the last strong uptrend has now weakened as ADX has dropped over the past two weeks from 40 to 27. MACD crossed down below the signal line and is moving further away, adding divergence. Stochastics are in deep oversold territory.

Proceed to Page 2 for the latest COT Data...

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