Crude Oil hints for potential correction 05/02/2013
Economies.com
2013-02-05 05:49AM UTC
Crude oil’s trading settled below the bullish trend support that appears in the image, to show that there is a potential bearish correction might begin and it’s targets starting at 95.20, and extend to reach 93.30 in case breaking the first level.
Now, the bearish correctional bias will be preferred as long as the price remained below the mentioned bullish trend line, which turns into resistance now at 97.45.
Expected trading range for today is between: 93.80 support and 97.45 resistance.
Expected trend for today: Bearish
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