May 28, 2012

CRUDE OIL Chart Analysis

 DAILY CHART
  • Crude oil is trying to get out of the descending channel as shown in the first chart.
  • But price is still below crucial resistance levels.
  • The cloud of four hour and the 20 Day SMA shown in last chart are crucial resistance levels for Bulls of crude oil to cross.
  • Weakness near the four hour cloud may result in another down move.
  • SPY WEEKEND UPDATE



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