Wednesday, October 6, 2010
Crude Oil Market Summary For Wednesday Morning Oct. 6th
If November extends the rally off last week's low, August's high crossing at 83.91 is the next upside target. Closes below the 20 day moving average crossing at 77.66 would confirm that a short term top has been posted.
First resistance is the overnight high crossing at 83.33
Second resistance is August's high crossing at 83.91
Crude oil pivot point for Wednesday morning is 81.65
First support is the 10 day moving average crossing at 79.07
Second support is the 20 day moving average crossing at 77.66
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