Askchirag.com

---

Crude Short term view Posted: 10 Jun 2010 01:14 AM PDT   Crude Short term technical views Crude made a low of 67 $ on 25th Way after falling From the cliff of triple tops made at 87.25 $ and Sharply bounced back to 75.6$ later Falling back to make a higher bottom at sub 70 levels and bounced back to 74 levels, breaking the short term Falling Trend Line Resistance . If in next Few Days Crude if manages to Cross over 75.6 $ than a medium term Bottom Could be in Place and on upside could give a sharp move to 79.5 & 81 $ Resistance Levels:  75.6 (short term top)—76.95 (50 % Retracement levels of complete Move From 87.25-67$)---79.5$(61.8- Retracement levels of complete Move From 87.25-67$)--- 81 $ ( a Higher top Above  Short term top) Supports Levels:  72.5 $ - Support From Falling trend line which was resistance before -69.3 $ short term Bottom Looks like Crude is all Set for a Big Rally again till 81$ and 83.4 $, Looking to Trade it on upside with Stop Below 71 $ For and Look to Enter on Dips in Range of 73-74 $

You are subscribed to email updates from All about Commodity Trading To stop receiving these emails, you may unsubscribe now.	Email delivery powered by Google
Google Inc., 20 West Kinzie, Chicago IL USA 60610