Here is the most recent chart of Oil after the 6%+ drop in prices yesterday. You can see that we have broken a major channel trend line but that was long ago now. Oil continues to move rapidly away from its moving averages, both 50 and 200 day. Moreover, we have broken out of the bollinger bands once again. Whether is corrects next week or not, one thing I am certain on is that Oil cannot fall forever like this. It's just unrealistic. Plus, don't you think at some point our government will be stepping in to buy for our strategic reserves?
