Crude Oil Morning Technical Report 2/9/2014
ecPulse
2014-09-02 07:10AM UTC
Oil has stabilized above 95.00 psychological and above 95.25-resistance turned into support- although trading range remains very tight since the opening of this week. We still believe that SMA 20 should offer the support bulls need to reach 97.00 boundaries over intraday basis supported by the positivity on MACD. Eyes are now on 96.00 level as a break of which will ease the path towards target area where bulls may re-test a cluster resistance.
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