November 25, 2014

 
  • Crude oil daily chart shows price testing 20 Day SMA Which may continue to act as resistance level.
  • 4 Hour chart shows 80 levels as previous support  which was broken and may act as crucial resistance if price moves up again. Bigger up move possible only if price is able to get back above this zone.
  • Weekly chart continues to test crucial support zone. Weekly candles yet to show signs of reversal.


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My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore