We wanted to bring your attention to the notable breakout that was recently attained on the chart of Crude Oil Continuous . Just last week Crude Oil managed to penetrate a significant area of resistance with the move to $84, a spread quadruple top breakout. Crude has recently moved through its January peak, hitting its highest levels since October 2008. Additionally, this action now generates an incomplete bullish price objective of $101 per barrel. The breakout in Crude Oil has also triggered a number of breakouts in the Crude Oil related commodity ETFs as the PowerShares DB Oil Fund and the United State Oil Fund both produced similar “big base breakouts” and both have just moved to new highs.
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