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Crude Remains Hypnotized

By Jim Wyckoff

 About this article:
 RealMoney--9-18-09 Crude Oil Price Remains Tethered to U.S. Dollar, Equities By Jim Wyckoff Crude oil futures on the New York Mercantile Exchange have been trapped in an $8 trading range at higher price levels for six weeks. Nearby October crude oil futures are bound by technical support at the bottom of the range, located at the August and September lows near $67 a barrel. There is strong overhead chart resistance for October crude at the top of the recent trading range, at the June and August highs near $75 a barrel. Crude Oil -- October Nymex Source: FutureSource.com and TradingEducation.com Look for nearby crude oil prices to continue to trade in a sideways and choppy range in the coming weeks barring any surprise economic, financial or geopolitical event that would unnerve traders and...

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