The Nymex crude oil market has rebounded from the August low, but is still in a price downtrend on the daily bar chart. If the bulls can push prices above chart resistance at the $58.00 level the price uptrend would be broken and the bulls would then set their sights on price levels in the $60s. If the downtrend remains in place and holds, prices would likely drift back down into the low $50s. Stay tuned!–Jim