Friday, November 30, 2012

Crude Oil‏ (Jan 13) intraday: the downside prevails.


Pivot: 88.70
Our preference: SHORT positions below 88.7 with 87 & 85.35 as next targets.
Alternative scenario: The upside penetration of 88.7 will call for a rebound towards 89.6 & 90.8.
Comment: as long as 88.7 is resistance, look for choppy price action with a bearish bias.


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