August 10, 2012

CRUDE Oil Update

  • Crude oil daily chart shown with the corrective up move.
  • Price is in a bearish continuation pattern. 
  • As long as price stays below 200 SMA this can only be called as a corrective up move.
  • A bigger up move is possible only if price starts to trade above the weekly cloud, 61.8%(Golden ratio) and 200 SMA.

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