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Monday, November 30, 2009 9:37:50 AM
Technical Oil Report
* Monday November 30 , 2009 07:05 GMT
Oil
Morning Report
Crude attempted to breach the support level for the main bullish direction twice; nevertheless, crude returned to sharply close above this level, which is currently at 73.95. Trading returned within the bearish channel, once again, presently nearing the pivotal resistance represented by the 200 MA at 76.90. We await a clear breach for this level to continue the expected bullish intraday direction, which should touch the resistance level for the descending channel around 79.70. The negative signs on Stochastic could cause some mixed trading from time to time. The expected bullish direction requires the daily closing to remain above 73.95.
The trading range for today is among the key support at 73.65 and the key resistance at 79.70.
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/2009/11/30/07-05-16/index.htm
George.
Click on "In reply to", for Authors past commentaries.
* Monday November 30 , 2009 07:05 GMT
Oil
Morning Report
Crude attempted to breach the support level for the main bullish direction twice; nevertheless, crude returned to sharply close above this level, which is currently at 73.95. Trading returned within the bearish channel, once again, presently nearing the pivotal resistance represented by the 200 MA at 76.90. We await a clear breach for this level to continue the expected bullish intraday direction, which should touch the resistance level for the descending channel around 79.70. The negative signs on Stochastic could cause some mixed trading from time to time. The expected bullish direction requires the daily closing to remain above 73.95.
The trading range for today is among the key support at 73.65 and the key resistance at 79.70.
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/2009/11/30/07-05-16/index.htm
George.
Click on "In reply to", for Authors past commentaries.
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