Monday, October 29, 2012

Crude Oil‏ (Dec 12) intraday: the downside prevails


Pivot: 87.50
Our preference: SHORT positions below 87.5 with 84.4 & 83.15 as next targets.
Alternative scenario: The upside penetration of 87.5 will call for 88.25 & 89.9.
Comment: as long as 87.5 is resistance, expect a return to 84.4.



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