Still has further to go down, in my opinion, though the upward trend remains. If I had to guess I'd say it would resume in January 2009, though I will let the price chart let me know when the uptrend is back. Those of the "buy and hold" mentality may wish to view this as a buying opportunity (though as I think prices will continue to drop, perhaps to around $80 which is a major support level, you may want to wait until then). -- KM


Oil prices fell below $90 a barrel on Monday for the first time since February because of the economic slowdown, even though production in the Gulf of Mexico has not fully recovered from hurricane destruction three weeks ago.

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