Thursday, June 12, 2008 - Charts - CLN8 CRUDE OIL July 2008 NYMEX

I am testing to see if I can post some charts on this blog. I have posted the July Crude Oil futures contract. There is a big harami candlestick as crude made a record surge to new highs on Friday then gapped back down Monday. This is occuring with technical divergence indicating loss of momentum. Also, while not visible on this chart, I believe there is a good possibility that the current advance has occured in 5 Elliot Waves and may be complete or near complete and ready for a decline. - Charts - CLN8 CRUDE OIL July 2008 NYMEX

You may need to hit "Draw Chart" to view the chart.

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