Oil is currently up $1.50 to $92.50/barrel. The commodity has gotten very close to $100 twice now and failed to break through. Oil has tested its $90 support level twice now as well. Currently, the commodity is trading in a range between $90 and $100. Each time the commodity tests its support or resistance, it means the eventual break through either of them will be more dramatic. We saw the same thing happen to the S&P 500 when it finally broke below the 1,490 level.
So we want to know what our readers think is in store for Oil. What will happen first -- a break above $100 or below $90? Please let us know by taking part in our Oil poll below. Thanks for participating!
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