April 20, 2012

CRUDE OIL Chart analysis

  • Crude oil daily chart shows price contraction and price approaching the apex of the pattern which may lead to a breakout or breakdown.
  • Price also near the resistance line of a falling channel.
  • An upper breakout can be confirmed on closing above 50 Day SMA.
  • Trading below 100.68 may lead to a bigger correction.

No comments:

Post a Comment