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Crude Bounces from Former Resistance (Now Support)

Crude Bounces from Former Resistance (Now Support)

2011-03-16 14:32:00
Jsaettele,
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Daily Bars

eliottWaves_oil_2_body_crude.png, Crude Bounces from Former Resistance (Now Support)

Prepared by Jamie Saettele

Crude has rallied from from former resistance at 97.00. 94.84-95.12 (61.8% retracement and 50 day average) is also potential support. 102-103.50 is now resistance with a move above giving scope to a test of the high near 107.00.

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