Airline industry has been one of the most beaten in last year. AMEX Airline Index (XAL) is down more than 50% in last months and but on July it had been even almost 70% down. What is interesting is that recent low has been formed on July. Compared to other industries where recent lows have been reached during October after heavy sell-off. Earlier turnover is due to declining crude oil and gasoline prices which are down more that 50% since July peak.Bad news about global economies will still weigh on crude oil and decreasing demand will send price lower. This will fuel airlines companies. Technically, chart above shows recent low higher than previous bottom. Usually it is strong bullish pattern, the same seen in early 2003 before AMEX Airline Index had bounced. Have a look also to Adam Hewisons video with ...