October 4, 2012

Falling Wedge of CRUDE OIL

  • Crude oil daily chart shows a possible falling wedge pattern. But with price closing below 100 Day SMA the chances of this pattern working well for bulls is low.
  • Daily closing back above 100 SMA shall give good gains for bulls.
  • For bears a break below 86.90 should give 84 levels.

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