July 5, 2012

CRUDE Oil Update

  • Crude oil pausing at the levels mentioned in an earlier post of crude oil.
  • Sustaining above 50 Day SMA Price will make another attempt to close above 38.2% Fib level which should result in an up move towards 50% fib level and above.
  • Daily cloud will be tough to break. Price closing above the daily cloud will lead to a trend change in crude oil. Bears of crude oil need a close below 50 day SMA.

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