Sunday, June 22, 2008

CL Analysis for 06.22.2008


Monthly chart shows increasing selling pressure. Look to see if there will be any sign of support off the key LIS and prior high at $66.75, which also happens to be a .382 fib level.

Daily chart shows bears came out in force at the open of Friday's trading session, and sold off heavily into the close. A test of the key LIS ( will "old resistance become new support"?) at $66.75 is likely.

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