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Crude Resistance 10450 Support 101 to 102

Crude Resistance 10450 Support 101 to 102

2011-03-28 15:03:00
Jsaettele,
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60 Minute Bars

eliottWaves_oil_2_body_crude.png, Crude Resistance 10450 Support 101 to 102

Prepared by Jamie Saettele

The uptrend remains intact as long as price is above 9700. Short term support is from 100.70-102.99 (Fibonacci) and probably strongest near the lower end of that range (reinforced by pivot low). Allowing for weakness towards 101, favor the upside (again, against 9700) towards the longer term channel resistance and a measured objective of 11738.

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