February 14, 2013

CRUDE Oil chart analysis

  • Middle Bollinger band or 20 Day SMA is acting as crucial support for crude oil. Falling below 20 SMA should result in a fall towards 94.96 level or to 50 Day SMA.
  • A Bigger correction may happen only if the support levels shown in 2nd and 3rd chart gets broken. Otherwise price is likely to remain in a trading range.

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