Wednesday, August 10, 2011

CRUDE OIL TREND TODAY 10 August(Wednesday)

Crude oil trend today is not satisfactory. Oil prices have dropped 17% this month, settling at USD 79.30 a barrel on Tuesday, as investors fearing an economic slowdown-and seeking a safe shelter-have sold oil holdings and driven down the price.


TREND
Bearish
RESISTANCE 2
3800
RESISTANCE 1
3730
SUPPORT 1
3600
SUPPORT 2
3540
STRATEGY
Sell on Higher levels

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