Friday, September 14, 2012

Crude Oil intraday technical analysis - the bias remains bullish

QE3 is the main price driver now of the Crude Oil (Oct.12). The short-term trend remains up and the momentum is strong. However, it has limited upside as it stalled at important psychological resistance at 100.00 forced by ex-support now turned resistance at 100.67 on the daily chart and it will need more than a prayer for the bulls to break it substantially. Intraday pivot is 98.7.

crude oil intraday technical analysiscrude oil daily technical analysis

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