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FX.co ★ CRUDE OIL Bullish Outlook August 02, 2011 (Daily Strategy)

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Forex Analysis

2011-08-02T13:01:54
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CRUDE OIL Bullish Outlook August 02, 2011 (Daily Strategy)

CRUDE OIL Bullish Outlook August 02, 2011 (Daily Strategy)

CRUDE OIL

In the daily chart we can see the oil has corrected down to the level of the 61.8% Fibonacci retracement, the price of crude oil could resume its upward sequence he had in previous day, only if the price remains above weekly support around the 93,72 , for a long position. With A goal of take profit around the 102,80 level .

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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