Crude Testing 20 day Average (Support)
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. A daily close below the 20 and 50 day averages would inspire confidence in the downside.
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