NYMEX Crude : Key resistance at US$ 101.70, support at US$ 96
March 17, 2011 Leave a comment
Crude has had a wild ride over since the Feb 15 low at US$ 83.85. Currently at US$ 99.80 or so, we view 101.70 as the key resistance, which if taken out could see crude spike again at least to 105.
Multiple failure to pass 101.70 will however increase the chances of another dip to 96 or so, with additional support seen at 92.30.