Tuesday, September 7, 2010
Crude Oil Technical Outlook For Tuesday Morning
Closes above the reaction high crossing at 75.58 are needed to confirm that a short term low has been posted. If October renews the decline off August's high, May's low crossing at 70.35 is the next downside target.
First resistance is the 20 day moving average crossing at 74.80.
Second resistance is the reaction high crossing at 75.58.
Crude oil pivot point for Tuesday morning is 74.12
First support is the reaction low crossing at 70.76.
Second support is May's low crossing at 70.35.
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