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Monday, December 07, 2009 9:34:15 AM
Technical Oil Report
* Monday December 7 , 2009 12:39 GMT
Oil
Midday Report
Crude continued its strong bearish pressure on the main support for the descending channel, currently at 74.60. Stochastic is still showing positive bullish signs, insuring our previous expectations for an expected bullish intraday direction for today; supported by the bullish short term direction, to maintain chances of this bullish direction's continuation.
The trading range for today is among the key support at 74.10 and the key resistance at 78.00.
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 December 7 , 2009 12:39 GMT
Oil
Midday Report
Crude continued its strong bearish pressure on the main support for the descending channel, currently at 74.60. Stochastic is still showing positive bullish signs, insuring our previous expectations for an expected bullish intraday direction for today; supported by the bullish short term direction, to maintain chances of this bullish direction's continuation.
The trading range for today is among the key support at 74.10 and the key resistance at 78.00.
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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