Technicals | Jul 07 2011
Crude Dips After Breaking Resistance Line – Trend Considered Sideways
By Jamie Saettele
Crude has blasted through its trendline (and 20 day average), which leaves weakness from the May high as a 3 wave correction. The implications are bullish as long as the recent low holds (89.55). The next levels of interest on the upside are 98.13, 100.34, and 102.83. Support is 95.84 and 93.45.
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