December 14, 2011

Triangle of CRUDE OIL

  • Four hour chart is shown with a contracting triangle with price near the support line of the triangle. 
  • If price gets support at the line and 200 period SMA then an up move is possible in crude.
  • Price closing below 200 period SMA may lead to a deeper cut in crude oil.
  • S&P 500 ANALYSIS AFTER CLOSING BELL

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