FeverBuster

Energy and Metals Charts

Regarding $7 drop:

"Investors hope that lower energy prices could help revive the flagging economy". Source: Yahoo

Oil is going to have to drop down below $100 to have any impact on the economy. But every bit helps. It will not last though, Iran will just launch another missile, or someone in Nigeria that has a gun will get mad, or maybe someone will spill a barrel of oil somewhere. You know that these type of things can really cause disruption of oil flow that will have devastating effects on the supply.

Energy and Metals Charts

I do not understand how a futures market of commodities can be charted in a way that provides overbought or oversold ranges since it is a complete different way of trading in relation to common stock buying and selling. To me your tying to fit a square peg into a round hole.