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Wednesday, November 25, 2009 9:15:35 AM
Technical Oil Report
* Wednesday November 25 , 2009 07:13 GMT
Oil
Morning Report
Crude was not able to remain above minor support ,mentioned yesterday at 77.00, where it will be breached and head directly towards support levels for the descending channel which organizes current trading around 75.30. Crude's reaching support levels, in addition to major oversold signs that are appearing through the stochastic oscillator; thus, making us expect a bullish intraday direction for today which initially targets minor resistance 77.15 and then ascends more towards main resistance 80.00. It is vital that 75.30 remain intact to keep chances of achieving an expected bullish direction.
The trading range for today is among the key support at 75.65 and the key resistance at 79.40.
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/2009/11/25/07-13-57/index.htm
George.
Click on "In reply to", for Authors past commentaries.
* Wednesday November 25 , 2009 07:13 GMT
Oil
Morning Report
Crude was not able to remain above minor support ,mentioned yesterday at 77.00, where it will be breached and head directly towards support levels for the descending channel which organizes current trading around 75.30. Crude's reaching support levels, in addition to major oversold signs that are appearing through the stochastic oscillator; thus, making us expect a bullish intraday direction for today which initially targets minor resistance 77.15 and then ascends more towards main resistance 80.00. It is vital that 75.30 remain intact to keep chances of achieving an expected bullish direction.
The trading range for today is among the key support at 75.65 and the key resistance at 79.40.
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/2009/11/25/07-13-57/index.htm
George.
Click on "In reply to", for Authors past commentaries.
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