November 12, 2012

CRUDE Oil update

 
 
  • ES Daily chart declining in a channel
  • Stiff resistance levels at 50 and 200 Day SMA.
  • Strong support for now at 23.6% weekly fib levels. Strong up move from these levels may test the resistance levels of daily chart. Not holding above 23.6% may lead to bigger falls possibly below 80 levels and towards 76 area.

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