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Wednesday, October 12, 2011

Crude oil - loosing momentum near resistance



We are very close to the downtrend line from the 114.83 top, at the same time we can see a clear loss of momentum, which most likely means, that resistance near 87.50 will hold for a break below 84. A break below 84, would call for a decline towards at least 81.37 and possibly even the 79 area.



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