Looking to trade setups , using Technical Analysis as Main tool
Monday, November 9, 2009
Crude Short Term view
Crude oil has been Consildating in sideways channel For past two weeks after the big move from 65 $ to Recent high of 82 $ --- Looking closely at the Consolidation Looks like a bullish Flag and could consilidate for some More Days before breaking on upside opening potential targets of 87$--92$ in the Cuming Weeks
traders Can Look to Buy on every Dip and maintain a SL below 74 $ closing Basis or enter in Fresh Trades When Crude Breaks out of the Channel above 81.25 $
Resistance on upside 84$--87.5$--92$
Supports on Downside 76.7$--75.4$-74 $
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