April 29, 2013

CRUDE Oil chart update

  • Crude oil one hour chart shows price above 50 and 100 Hour SMA. Price sustaining above 50 and 100 Hour SMA will extend this up move towards 78.6% Fib level.
  • 78.6% Fib level is around 94.80 which is a possible resistance level. Price may also form an inverted head and shoulders pattern with Neckline at 94.80 level.

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