Algokid

Crude Oil Breaks Support

NYMEX:CLK2012   CRUDE OIL FUTURES (MAY 2012)
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Oil broke it's support and it's trading below it's 50 EMA . Just remember that both OIL and the S&P 500 reached their highs the week of 4/29/2011 and their bottom week of 10/7/2011. Will they continue to be in sync ???

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Quick update on this chart. We can see that oil had a very bad day. expect some kind of bounce after today's session, but it could continue to go lower
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I guess they are still in sync
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