Sunday, September 25, 2011

WTI Crude oil dropped to S3

WTI Crude Oil dropped exactly to weekly S3 support. We had very nice monthly and weekly pivot resistance. After two day FED meeting, weekly S1 failed as a support and we have seen move down below weekly S3 support. However, in the end of week price return above this support and closed on Friday almost exactly at 80$.

WTI Oil, 1-hr chart:

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