Monday, January 17, 2011

CRUDE - Daily Market Thought 18012011 - Losing Momentum

Crude remain bullish medium term above 69.53 and bullish short-term above 80.78.
Testing last sessions important resistance between [92.11,94,42].
Losing momentum last weeks with Bearish divergence last two highs I suspect possible will see top major or minor top between range [92.11, 94.42] next sessions.Unable to close above 94.42 daily chart expect new test range [87.12,88.12].
With a close below 87.12 expect new test ema200 near 83.10 next weeks.
Bullish view  hold next pullback above 87.12 and break  94.42 expect   99.30 next weeks.
Click to zoom in. Good Luck folks.

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