Tuesday, October 30, 2012

Crude Oil‏ (Dec 12) intraday: the downside prevails.


Pivot: 86.75
Our preference: SHORT positions below 86.75 with 84.4 & 83.15 in sight.
Alternative scenario: The upside penetration of 86.75 will call for a rebound towards 87.5 & 88.25.
Comment: as long as 86.75 is resistance, look for choppy price action with a bearish bias.


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