Calling tops in crude is dangerous. I would wait for a break of the trendline before doing that, currently just under 120, putting heavy pressure on 121 recent lows. First clues will come from the 5 dma momentum line.
The 135 level (May high) is definite reistance, so there is selling pressure. But that does not mean gasoline is cheap or that oil bulls are done.
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on Tuesday, June 10, 2008 at 6/10/2008 05:58:00 PM.
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