Crude Oil Daily Technical Outlook from Oil N' Gold

Crude oil's rise from 62.70 extends further today and breaches 70 level. At this point, intraday bias remains on the upside as long as 68.79 minor support holds. Whole rise from 58.32 is expected to continue to key cluster level at 73.38 with 100% projection of 58.32 to 68.99 from 62.7 at 73.36. On the downside, below 68.79 will indicate that an intraday top is in place and bring consolidation. But break of 62.70 support is needed to indicate that rise from 58.32 has completed. Otherwise, short term outlook will remain bullish....Complete Story