Thursday, September 13, 2012

20120913 1543 Crude Oil Daily Chart Study.



Chart Reading :
Bollinger band reading : correction range bound market within an uptrend market.
MACD Histogram : recovering, buyer still in.
Support : 97, 94, 92 level.
Resistance : 100, 103, 106 level.
Idea : Long at support or break up above resistance, must set stop loss few points below support. Short at resistance, must set stop loss few points above support.

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