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Parabolic Move In Crude Oil Looks Extended

Posted on May 12, 2008

This isa bit of a stretch, but a comparison of the current price of crude oilfutures and the Dow Industrials from 1987 would indicate that crude isgetting a bit extended. The following shows a daily chart of crude oil futures hitting aDeMark Sequential 13 count. After an already strong run higher, crudehas gone parabolic in the past two weeks. This type of advance is notsustainable and often leads to a price collapse. ...

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crude , futures , oil futures