Investing
Crude Oil Price Chart -- Trading at Top of Downtrend
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From Ticker Sense
On January 22nd, we highlighted that crude oil was trading at the bottom of its downtrend and pointed out it may be due for a bounce.
Since then the commodity has climbed from just over $50 per barrel to just below $60. Now, however, the commodity is trading at the top of its downtrend so pay close attention to the price at these levels. If it has a tough time breaking through $60, look for a continuation of the downtrend. If it is able to break through $60, the downtrend will have been broken.
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