Crude Nears Levels That Could Lead to a Low
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-The news top led to a sharp decline but crude is nearing levels that likely inspire a rally attempt. 95.59-97.09 is a support zone. The decline is impulsive, which raises the possibility of a larger decline following a corrective rally.
-Estimated resistance is now 101.01 (2/25 low).
LEVELS: 95.19 96.24 97.09 | 98.54 99.30 100.11
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