Tuesday, May 31, 2011

Crude Encountering Resistance? 5/31 8:20AM CST

(Chart 1 - WTI Crude Daily chart zoomed in)
(Chart 2 - WTI Crude Daily chart)

103.40-103.00 is very good resistance for WTI crude. We have a confluence of 2 Fibonacci levels here, as well as the top of the current bullish channel just a bit higher.

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