Light Sweet Crude Oil futures (Crude)
♦ The US Light Sweet Crude Oil futures closed almost flat last week at US$76.01, as it failed to extend gains from its recent attempt to stage a technical rebound.
♦ The Crude is registering a “doji” candle, suggesting indecisiveness on its near-term trend direction.
♦ As it failed its attempt to recross the 40-week SMA near US$77, and the key resistance of US$77, it is poised to retreat this week on profit-taking pressure.
Commodities & Currencies - More Weakness On The US$ Likely… - 19/7/2010
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