Sunday, July 12, 2009

Crude Views!!!

The chart you see below is the daily chart of crude. This is the first time Crude has broken down from its well defined channel from mid February! The most recent DT formation has now completed its target $66-(73-66) = $59. There is a good support at $55 as of now.





The RSI also looks a kinda bit oversold considering the level it is presently at (not been here since Feb bottom!). Speaking of resistances, well the entire $63.5 to $65.5 is turning out to be one mean RESI zone coz of the confluence of the MA’s there!



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