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Thursday, December 24, 2009 10:30:55 AM
Technical Oil Report
* Thursday December 24 , 2009 12:37 GMT
Oil
Midday Report
Crude managed to build a base on main resistance at 77.40 to start an expected bearish intraday direction, mentioned this morning. Thus, we await to achieve the bearish correction's targets at 76.30 that might reach 75.60, whilst remembering the importance of observing the daily close by 77.10, for the reasons mentioned in our morning report.
The trading range for today is among the key support at 74.50 and the key resistance at 80.45.
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.
* Thursday December 24 , 2009 12:37 GMT
Oil
Midday Report
Crude managed to build a base on main resistance at 77.40 to start an expected bearish intraday direction, mentioned this morning. Thus, we await to achieve the bearish correction's targets at 76.30 that might reach 75.60, whilst remembering the importance of observing the daily close by 77.10, for the reasons mentioned in our morning report.
The trading range for today is among the key support at 74.50 and the key resistance at 80.45.
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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