For the past couple of months most of us have been enjoying dirt cheap gas prices. Much of our attention has been geared towards the messed up economy, but, with many seem not to notice, it looks like crude oil might be pushing its way back into the headlines.
With our already teetering economy, can the U.S. survive higher oil prices? Unlike many other resources, the use of oil really cannot be cutback on. Everybody has to use it, yet we really have no control of it. It is a wonder that prices have stayed so low as it is.
The following is a great video that details the signals that can be seen in the chart of crude oil. It also does a good job of showing you the different levels you should watch if crude oil surpasses or bounces off of, and what would happen if the price actually does rise.
