July 1, 2012

CRUDE Oil Weekend update

  • Crude oil gave a bullish weekly candle near support zone.
  • Price closed the day above 20 Day SMA and may target 50 Day SMA.
  • Next resistance levels are near 50 Day SMA and 38.2% Fibonacci levels.
  • Earlier the up move was started after Positive Divertgence which was discussed in an earlier crude oil post.