Wednesday, June 8, 2011

Crude Oil Technical Analysis 6/8/2011

Pivot: 99.90

Our Preference: SHORT positions below 99.9 with targets @ 97.85 & 96.9.

Alternative scenario: The upside breakout of 99.9 will open the way to 100.56 & 101.8.

Comment: the RSI is mixed and calls for caution.

Trend: ST Range; MT Range

Key levels Comment

101.8* Intraday resistance
100.56** Fib retracement (50%)
99.9** Intraday pivot point
98.4 Last
97.85** Intraday support
96.9** Intraday support
95.55** Intraday support


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