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Crude Closes in on 2011 High

Crude Closes in on 2011 High

2011-02-01 15:06:00
Jsaettele,
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Daily Bars

eliottWaves_oil_2_body_crude.png, Crude Closes in on 2011 High

Prepared by Jamie Saettele

After breaking a short term support line and 88.18, Crude has reversed violently and is again knocking on the door of its 2011 high (made on the first trading day of the year) at 93.51. My larger bias remains bearish as long as price is below 97.83.

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