Tuesday, June 7, 2011

Crude Oil (NYMEX) 6/7/2011




1 week Trend:  (=)  1 month Trend:  (=)

Crude Oil‏ (Jul 11) intraday: key ST resistance at 99.4
Pivot: 99.40

Our Preference: SHORT positions below 99.4 with 97.85 & 96.9 in sight.

Alternative scenario: The upside breakout of 99.4 will open the way to 100.76 & 101.8.

Comment: the price is challenging its negative trend line.

Trend: ST Range; MT Range

Key levels Comment

101.8* Intraday resistance
100.76** Intraday resistance
99.4** Intraday pivot point
99.13 Last
97.85** Intraday support
96.9** Intraday support
95.55** Intraday support

1 comment:

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