NYMEX CRUDE OIL STUDY TIME

5 & 21-day MA Confirm Dead-Cross

RES 4: $78.40 Record high & August contract high 14 July
RES 3: $76.80 Daily low 17 July
RES 2: $75.97 Daily high 19 July
RES 1: $75.00 21-day moving average

LAST PRICE: $73.90

SUP 1: $73.35/45 55-day moving average & 61.8% of $79.86 to $69.50
SUP 2: $72.50/55 Daily low 27, 28 June
SUP 3: $71.90/95 100-day moving average & 76.4% of $79.86 to $69.50
SUP 4: $71.40 Daily low 26 June

The 5 & 21-day moving average's have confirmed a
"dead-cross" and price action is now threatening to break below the
55-day ma at $73.35. Below here, the risk is on a move to
$71.90/95, where former is the 100-day moving average & latter the 76.4%
of $79.86 to $69.50 move.