FX & CFD trading involves significant risk
Bearish daily studies pressure oil lower following high of $92.58 on Monday. Current price action boxed between 5-DMA at $90.51 and 21-DMA at $89.84. Break below the 21-DMA may open the downside to reach strong support seen at $87.33/43, the daily Bollinger band base and the 23.6% Fibonacci of $70.76/92.58. Initial resistance seen as the Jan 5 high and Oct 2008 high around $90.84/99.
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