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Monday, November 09, 2009 8:25:13 AM
Technical Oil Report
* Monday November 9 , 2009 13:04 GMT
Oil
Crude faces a hard time in breaching the resistance level, mentioned in our morning report, at 78.85, represented in the 50 MA. We still see chances of a breach occurring; thus, we hold onto our morning expectations for a possible bullish intraday direction for today that targets 80.75 and requires trading to remain above 77.20 for it to prevail.
The trading range for today is among the key support at 75.60 and the key resistance at 84.05.
The general trend is to the upside as far as 47.20 remains intact with targets at 85.00.
http://www.ecpulse.com/en/dailyreports/technicaloil/
George.
Click on "In reply to", for Authors past commentaries.
* Monday November 9 , 2009 13:04 GMT
Oil
Crude faces a hard time in breaching the resistance level, mentioned in our morning report, at 78.85, represented in the 50 MA. We still see chances of a breach occurring; thus, we hold onto our morning expectations for a possible bullish intraday direction for today that targets 80.75 and requires trading to remain above 77.20 for it to prevail.
The trading range for today is among the key support at 75.60 and the key resistance at 84.05.
The general trend is to the upside as far as 47.20 remains intact with targets at 85.00.
http://www.ecpulse.com/en/dailyreports/technicaloil/
George.
Click on "In reply to", for Authors past commentaries.
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