Tuesday, August 2, 2011

CRUDE OIL Bullish Outlook - August 2, 2011



CRUDE OIL

In the daily chart we can see the oil has corrected down to the level of the 61.8% Fibonacci retracement, the price of crude oil could resume its upward sequence he had in previous day, only if the price remains above weekly support around the 93,72 , for a long position. With A goal of take profit around the 102,80 level .

Performed by Gerardo Porras Palomino, Analytical expert
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