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Monday, November 16, 2009 9:08:01 AM
Technical Oil Report
* Monday November 16, 2009 12:41 GMT
Oil
Midday Report
Crude is facing some hurdles in achieving more bullish movement; presently starting with some minor bearish correction that is not supposed to surpass 77.05 or 76.75. From here our morning expectations still remain intact while we await an expected bullish direction for today through breaching 77.65. It is vital that trading remains above 75.60 to maintain the continuation of the bullish short term direction.
The trading range for today is among the key support at 73.60 and the key resistance at 81.85.
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 16, 2009 12:41 GMT
Oil
Midday Report
Crude is facing some hurdles in achieving more bullish movement; presently starting with some minor bearish correction that is not supposed to surpass 77.05 or 76.75. From here our morning expectations still remain intact while we await an expected bullish direction for today through breaching 77.65. It is vital that trading remains above 75.60 to maintain the continuation of the bullish short term direction.
The trading range for today is among the key support at 73.60 and the key resistance at 81.85.
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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