July 18, 2012

Rising Wedge of crude oil


  • Crude oil four hour chart shows a bearish rising wedge pattern.
  • Fibonacci levels are hitting resistance levels.
  • Weekly chart also shows price moving towards a crucial support resistance level. Price must sustain above this zone of 89 - 93 for a bigger move to take place. Unable to cross this zone may result in a fall from the rising wedge.
  • S&P 500 ANALYSIS AFTER CLOSE


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