On the technicals front, the price turned lower than the resistance at $ 84.16, Fibonacci extension level 23.6%, to form a Bearish Engulfing candlestick pattern and break back below the 38.2% level of $ 80.97. The bear now aims to challenge Fib 50% at $ 78.03. and Crude oil prices edged up yesterday to anticipate the announcement of the Federal Reserve's monetary policy on Wednesday, with increasingly high expectations that Ben Bernanke and the company will offer another round of stimulus to boost a faltering economic recovery


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