Small Red patch on left leg for past 5 weeks

Hello everyone, i'm 23 and for the past 5 weeks i've had a small red patch (1.1 cm x 0.7 cm) on my left leg, at about the same height where my sock typically comes up to.  It blanches with pressure and has gotten neither smaller nor larger these past 5 weeks, no bleeding or oozing.

At first the patch was itchy and looked sort of like a scab, however this subsided after a few days and now there isn't any itchiness at all.  I tried using hydrocortisone 1% cream and ointment, the pictures here:
http://img3.imageshack.us/gal.php?g=pic1lo.jpg
Show the patch before (left photo) using the cream and olive oil to moisturize and the picture on the right shows 4 days after using such measures.

I've been told that this is probably eczema, but in that case shouldn't the patch be gone by now?  Also, there is only one such patch, on my legs.  No other patches or other symptoms at all, and as far as I know I've never had this type of patch before.  If this is eczema i'm wondering if there's a better treatment available then what I've been using so far.