Monday, March 15, 2010

Heating Oil Breaks Down

click to enlarge
Note the .76 long term retrace on the daily bar chart above, followed by the trend line break.
Taking out the 50% retrace of the last leg up at 2.06 ought to target the Feb lows 1.8272 (spot month) with fib retrace points as milestones on the way there.

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