Technicals | May 13 2011
By Jamie Saettele
Crude’s rally has stalled just shy of its 50% retracement. A head and shoulders parallel line technique suggests that the high is in (see above). A break of the 5/6 low at 9463 would give scope to the 2/15 low at 8870 and then the 100% extension of the decline from 11483 at 8440. There is also a trendline that bears watching near 90.
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