June 1, 2012

CRUDE OIL Weekly chart analysis

  • CRUDE OIL continue to fall. Price has violated the weekly trend line. Price is testing 78.6% Fibonacci level. Weekly candle closing below this level will further strengthen bears of crude oil.
  • Next crucial support levels in weekly chart are 79 - 80 and 74 - 75.
  • 78.6% Fib level may act as support.

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