Fantastic move in Crude breaking its recent highs of April-2011 at 5098.
One statement of caution here – After crude touched its recent high in April-2011 it could not sustain even for the next day and fell almost 1000 points. Same thing happened when crude reached its all-time high of 6333 in July 2008 and it could not sustain that levels and fell 4600 points by the end of January 2009 at 1626 low registered.
This time it crossed 5098 on 16th November 2011 and closed below 5098 on 17th November.
As long as 4760 is not breached crude has chances to hit 5400 >> 5700 and then all-time High can not be ruled out.
So traders be alert.
Trading Levels. Here I would like to give conservative figures. In other words there would be around 100 points difference in the levels.
4760 << 4890 << 4940 >> 5090 >> 5160 >> 5250
Crude Daily Chart
Crude Monthly Chart
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