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Crude Oil Technical Analysis - Dec 26, 2012

Crude Oil: the black gold is testing the top of a minor trend line which begins back at 89.19. Should the market move lower than we see some support at the bottom of this trend channel near 85.93. A break beneath 85.93 can test 84.05.

Alternatively, should the market move higher, we see resistance at 92.24. With 97.30 being the next level of resistance and above that we can test towards 114.83