August 5, 2011

CRUDE OIL Channel breakdown

UPDATED CHART
  • Crude oil has broken the weekly channel in which it was trending up.
  • Trading below 89 - 93 will favor bears.
  • 89 - 93 level will act as resistance in case of an up move.
  • Trading above 93 will be bullish for crude oil.
  • HEAD AND SHOULDERS OF UNITED STATES OIL

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