Friday, March 30, 2012

OIL : Broken the major support

Below is the chart of OIL, consolidation for last one month thereafter broken the major support as well as rising trend line. Negative divergence in MACD and volumes. If price sustain below the support trend line then the down move will continue where the next support is expected around 99-97-93 levels on higher side resistance seen around 106.

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