Commodity, Currency, Gold, and Equity Market Analysis by Dr. Christian Normann        Please note: the optimal screen resolution for this page is 1600 x 1200 (UXGA Info) or 1920 x 1080 (1080p Info).  If your screen resolution cannot be adjusted to at least 1600 pixels wide through your operating system display settings, you may need to scroll a bit to the right in order to see the most recent chart action.  We apologize for any inconvenience, but believe it is outweighed by the ability to clearly see - in a single chart - several years of market history and important long-term support/resistance levels (that can significantly affect traders in all time-frames). Please visit the About Normann Financial page for important information about risk management and position sizing.  We provide analysis to the best of our ability, but proper risk management is crucial.  Your trading and investment decisions are exclusively your own responsibility. Intra-Week Crude Oil (and Commodities) Comment Based on Closing Prices, Tuesday March 17th 2009 Crude oil may be breaking out this week.  If oil prices can hold at this level or better at the close on Friday, the odds that this is a genuine breakout will increase.  We may or may not have seen the final bottom for oil and commodities, but at least a multi-month rally is looking more probable. Below is the 2 x leveraged DXO PowerShare that attempts to double the daily moves of crude oil.  It appears to be breaking through resistance marked by the two green lines that are close together and the blue line the marks a small reverse head-and-shoulder formation (quite common at market bottoms).  USO, the most heavily traded non-leveraged crude oil fund, is on the verge of a similar breakout (not shown, the chart looks similar to the DXO, only the moves are much less volatile). Given that oil is a major input in the production of virtually all commodities, it is not surprising that commodities in general appear to be on the verge of a breakout as measured by the DBC commodity fund (not shown, chart configuration similar to that seen below for oil).

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