Crude: Slip Sliding Away

www.investing.com/analysis/crude:-slip-sliding-away-228288

By Tim Knight | Oct 07, 2014 01:50PM ET

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+0.21%

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XOP

-1.16%

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ERX

+0.53%

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USO

-0.41%

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Crude Oil, viewed by way of United States Oil Fund (NYSE:USO), nailed its technical target 33.68 (marked with the lower horizontal red line in the chart here). It seems stalled there, but it’s not exactly bouncing; given the break beneath the ascending blue trendline, perhaps crude oil is in for some more serious damage.

My Short Idea

(NYSE:XOP) -- offered up several weeks ago -- has done great (as has the more aggressive version, (NYSE:ERX)). But those funds have plenty of room to fall.

Perhaps, in spite of all the insanity in the Middle East, crude oil is going to keep weakening.

United States Oil Fund

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Comments (1)

Pavel Oatland Oct 07, 2014 7:14PM ET

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Crude Oil WTI	66.50	+0.14	+0.21%
Brent Oil	69.65	+0.19	+0.27%
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Gold	2,912.39	-14.21	-0.49%
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Crude: Slip Sliding Away

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