March 22, 2011

CRUDE Oil Hour chart analysis

CHART-III
  • Crude Oil touched a high of 106.33 and is correcting from there. But if continue to stay above the resistance band we will see crude oil prices moving higher.
CHART-II
  • Crude Oil has given a breakout above the resistance line staying above 105 can target 108 for Nymex Crude.
CHART-I
  • Crude Oil Hour chart is showing resistance between 104.10 - 104.40 level.
  • Hour closing above this band will be positive for the bulls of crude oil.
  • Failing to stay above this will be negative. Staying above 50 hour moving average is also important for the bulls of crude oil

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