Crude Oil Drifting Lower

Crude Oil Drifting Lower

30 June 2014, 13:10
Sergey Golubev
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CRUDE OIL TECHNICAL ANALYSIS


Prices remain in consolidation mode below resistance at 107.19, the 23.6% Fibonacci expansion.A daily close above this barrier initially targets the 38.2% level at 108.49. Alternatively, a reversal below the 23.6% Fib retracementat 105.54 clears the way for a test of the 104.24-73 area, marked by a formerly broken triple top, the 38.2% threshold and a rising trend line set from early May.



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