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Crude Resitance Begins at 7700

By Jamie Saettele, CMT, Sr. Technical Strategist
02 September 2010 15:31 GMT

Crude Resitance Begins at 7700

Crude_Resitance_Begins_at_7700_body_DT902oil.gif, Crude Resitance Begins at 7700

Taking a longer term look at Crude, expectations are for a drop below 6424. 6116 would be potential support (100% extension), followed by 5832 (former 4th wave extreme). Near term, crude may work higher to complete correction from 7075. 7710 and 7850 are resistance areas.

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02 September 2010 15:31 GMT