Wednesday, September 9, 2009

NYMEX Crude Daily: Bull's attacked


Bull's attacked with printed a long white candle during a hibernating season for bears. Immediate technical outlook has been improved and neutralised from its sideways to lower move. Nevertheless, more support is still needed to identify a clearer market direction in near term. To the upside, immediate resistance is looking at USD71.80-72.00 followed by 73.50. While, downside support is pegged at USD67.66-67.12.