After tumbling for more than 9% on Friday's trading session, Crude Oil seemd to found its support at $77.5 area, that was the bottom trend line of its downward price channel. Fundamentally, we had European governments agreed to support their banks from going out of businesses, as well as OPEC's production cut announcement, that might boost certain demand for crude, but still, all eyes on the banks and US equity market, if we can see US stock market holds well in the coming week , crude is likely to get an oversold rally, might be testing the upper trend line at around $87 area.
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