Was watching Jim Cramer on Mad Money today and he talked a little about Crude and Copper and some technical analysis
on them. Had a similar chart on crude. I pulled a continuous 5 yr and a 20 yr chart that you can get on Barchart of Oct crude.
Some of the talk centered around the small rise due to the storm and continued supplies coming online due to fracking. Oil
trading between lower 40's and upper 50's. Which way will it go long term on breaks of these levels. Well the chart may tell.
Cramer's thought was to wait for a possible breakdown to the long term line because Korea, Hurricane, and Opec don't seem
to matter much at the moment to send it screaming higher. Also mentioned that the big specs seem to already be heavily long.
Can it go down to 30? Maybe 25? Time will tell.