Originally Posted by Whacker77

I'm cautiously optimistic that oil will continue down. It broke a key support level at 131 and now techincal analysts say it could move to 115 in short order. Go to Google Finance, get a quote for the USO, select the YTD graph, and you will notice the trend line for oil has been broken. In all past pullbacks, oil hit its trendline support and bounced back to new highs. This time it plowed right through. Of course now that I've written this, oil will spike six dollars tomorrow. It's good to see some encouraging news though.