Friday, September 23, 2011
Crude Oil Makes Sharp Move Below $80, Here's Your Numbers For Friday Morning
Is cluster support of 64.23 on the table? That's what trading shops are talking about today. And it's looking more and more like a possibility.
If November extends this week's decline, August's low crossing at 76.61 is the next downside target. Closes above the 20 day moving average crossing at 87.17 would confirm that a short term low has been posted.
First resistance is the 10 day moving average crossing at 86.34. Second resistance is the 20 day moving average crossing at 87.17. First support is the overnight low crossing at 78.36. Second support is August's low crossing at 76.61. Crude oil pivot point for Fridays trading is 81.72.
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