Indicators :
- RSI Period 14 with 30 level as oversold and 70 level as overbought.
- The 4X1, 2X1, 1X1, 1X2 and 1X4 Gann Angels.
- Gann’s Price&Timing Study.
- Simple Moving Average 50 Period (Blue), 100 Period (Red) and 200 Period (Green) on the chart.
The Light Sweet Crude Oil broke below 1×1 angel’s Gann from 2010.05.25′s low as my latest expected about Oil (refer to: Oil Remains Bearish Has Testing Support).
SMA50 testing to crosses below SMA200 should be retreat before by the first time facing, I guess the market might go up re-testing around 90$ previous support as currently resistance.
Daily Chart
By the “time by degree”, resistance around 90$-91$ levels and the support steep to 63$ – 66$ levels, as now we got the previous price projection indicate down to 72$ level first.
RSI stay in the strong bearish scenes as well.
