NYMEX Crude Daily: entering into Bearish territory
Posted by Labels: Technical Comment (NYMEX Crude)
Market was entering into bearish territory following prices drop sharply for consecutive 2 trading days and violated the physiological support at USD80.00. Thus, market may move sideways to lower in near term. As for now, we are looking for the immediate upside resistance at USD82.00-83.00, while downside support is lies at USD78.50-78.00.
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