December 2, 2011

CRUDE OIL Channel and Resistance line

  • Crude oil daily is moving up in a channel.
  • But price in weekly chart is trading near major resistance lines.
  • Major breakout in Crude oil will be possible only if price takes out the resistance line from 147.
  • Bearish candles at these levels may give good short trades in crude oil.
  • See MCX Crude oil chart below this post

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