Crude Oil Intraday Analysis 02 April 2013

April 2, 2013 5:54 pm2 commentsViews: 16

Crude Oil Turning Down

Our Pivot: 97.70

Our Preference; Short Crude oil below 97.33 with a strict stop loss at 97.70 and profit target at 96.11 and 95.60

Alternative Scenario; Upward Penetration of 97.70 will call for 98.33 and 98.56

NOTE; Crude oil have reached in an over bought region and is now taking a reversal towards 95.60,  Stochastic is bearish and RSI also have indicated a reversal sign

Intraday Supports & Resistances;

Pivot; 96.58

Supports: 96.09, 95.33, 94.74

Resistances: 97.44, 98.03, 98.79

CL020413

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