Monday, June 27, 2011

Crude Oil, ready to reverse

Crude Oil has tested the 90 level three times so far, and failed to break to the downside. This is a clear message that this level is well supported. A triple bottom is a well recognized bottoming pattern. Crude oil is very volatile, but can be equally rewarding should you manage to catch a good move. As im typing this, we are on the verge of breaking out, starting 'in my opinion', the final move higher. On June 19, this level was identified as a very high probability reversal point.


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