Crude Oil Analysis For The Week Of March 19, 2012

May Crude Oil finished the week with a slight gain. It was a quiet week with the market showing a bias to the downside until Friday when prices surged, taking back all of the week’s losses. Two week’s ago, crude oil posted a weekly closing price reversal top which typically leads to a 2 to 3 week break equal to at least 50 percent of the previous rally. Last week the market finished its two week decline but failed to reach its minimum objective of $103.61 before buyers stepped in at $104.29. Although the late week rally didn’t…

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