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Monday, December 2, 2013

WTIC - Crude Oil - Daily - Weekly & Monthly Technicals & trading levels : 02 Dec 2013

Weekly Trading Levels 

Best Buy & Support for the week @ 94 (Current Resistance) Actual Resistance & Best Short Level for the week holds @ 94.78 . A break above 95.56 upside target @ 98.48 - 99.65 However a Crack Below 92.22 Downside target intact @ 89.95 - 88.80 

As explained in the Daily charts -we have positive readings or a positive sentiment  earlier in the day which may push prices up till 94. I don't see 94.78 because the Monthly Charts play a Major role compared to all different time frames. 

Weekly Trend - All indicators in Bearish zone but a reversal in place and my view on it is Neutral or call it a dud Indicator in current scenario 

Monthly Trend as explained in the charts out of 6 indicators 3 Major indicators have a reversal tendency however Initial 3 Indicators are suggesting Firm Bearish Trend hence we remain Bearish initially & turn Bullish substantially 

Now @ 93.05

"88.80" is the Key for Bulls as of current strategy & objectives.

Daily

Weekly

Monthly

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