Crude Oil could be due for correction (March 09, 2009)

Crude Oil prices have climbed for the past week, inventory numbers are moderating.
However, it gives me the funny feeling when DIG, OIH is still in a downtrend.

This could be buy the rumour sell the news trade due to further OPEC cuts.

If you asked me, I think it is time to short crude oil. You can do this through some etfs like DTO, SCO.

Here is a chart of Crude Oil showing wedge forming.