Seeing Alpha:
With oil breaking below the $60 barrier this morning, we thought we’d provide price charts of the commodity since 2000 and since this April. As shown in the first chart, even after oil’s 60% decline since July, it still hasn’t broken below its long-term uptrend line that started back in late 2001.
When looking at the graphs, the trend is obvious, but are the commodity bears enough to break it?