Monday, August 22, 2011

Oil remains bearish

Crude seems to be a in bearish set up, as both fundamental and technical reason point southward direction.With Libyan issue closing for a conclusion and techincially the much dreaded death cross formation on the chart. the upside tends to be limited. i still dont see Oil prices tumbling down and i have a strong view that oil will make a range and will trade a big range.

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