August 16, 2012

CRUDE Oil Update

  • Crude oil triangle shown in a Previous Post has given a breakout in favor of crude oil bulls.
  • Price is violating weekly cloud which is good for bulls of CL. Now bulls need a weekly close above the cloud.
  • Another crucial level which Crude oil bulls must cross is the 200 Hour SMA. Failing which we might see a correction in favor of Crude oil bears.

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