| Followers | 0 |
| Posts | 148553 |
| Boards Moderated | 7 |
| Alias Born | 03/10/2004 |
Friday, November 20, 2009 1:58:17 PM
Technical Oil Report
* Friday November 20 , 2009 07:06 GMT
Oil
Morning Report
Crude was able to achieve the bearish pattern's targets set yesterday and stop descending at 61.8% correction level – shown in the side image -. Trading continues within the descending channel, where we await its breach to open the way to complete the bullish medium term direction. Our expectation for today is for a bullish move over intraday basis which initially targets 80.10, requiring the four-hour closing above 77.80.
The trading range for today is among the key support at 76.25 and the key resistance at 81.00.
The general trend is to the upside as far as 47.20 remains intact with targets at 85.00.
http://ecpulse.com/en/dailyreports/technicaloil/2009/11/20/07-06-43/index.htm
George.
Click on "In reply to", for Authors past commentaries.
* Friday November 20 , 2009 07:06 GMT
Oil
Morning Report
Crude was able to achieve the bearish pattern's targets set yesterday and stop descending at 61.8% correction level – shown in the side image -. Trading continues within the descending channel, where we await its breach to open the way to complete the bullish medium term direction. Our expectation for today is for a bullish move over intraday basis which initially targets 80.10, requiring the four-hour closing above 77.80.
The trading range for today is among the key support at 76.25 and the key resistance at 81.00.
The general trend is to the upside as far as 47.20 remains intact with targets at 85.00.
http://ecpulse.com/en/dailyreports/technicaloil/2009/11/20/07-06-43/index.htm
George.
Click on "In reply to", for Authors past commentaries.
Discover What Traders Are Watching
Explore small cap ideas before they hit the headlines.
