Stock Market Chart Analysis
My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
August 3, 2011
CRUDE OIL staying below 50 DMA
Crude oil is staying below its 50 Day Moving Average.
Price fell below its support level of 94.63 and is likely to hit 89.60 levels.
Bigger correction may happen only if price stays below 89.60.
If price takes support here crude oil will stay in this broad range of 89 - 99 with 94 as the mean.
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