February 8, 2011

CRUDE OIL Testing the trend line again

DAILY CHART
  • Crude oil daily chart is testing its trend line in daily chart.
  • Price in hour chart is trading well below its 50 hour moving average.
  • If price sustains below the trend line crude may target 84 levels in the coming weeks.
  • Price moving above 50 hour moving average may change the balance in favour of the bulls.
  • SPY TECHNICAL ANALYSIS

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