October 30, 2012

CRUDE Oil chart analysis

 
  • First chart, Daily time frame shows price below support zone of 86.90 - 87.60.
  • Second chart shows price below crucial moving averages in daily time frame. Sustaining below these levels will extend the fall of crude oil.
  • Third chart is the Weekly fibonacci levels. Price trying to hold above 23.6% Fib level. Unable to hold on to this level may result in a deeper fall in crude oil. Getting support here may result in a rise towards 89 levels.
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