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Friday, January 22, 2010 9:23:44 AM
Technical Oil Report
* Friday January 22, 2010
Oil
Morning Report
Crude succeeded in achieving the awaited main bullish targets for our daily and weekly reports at 75.60 continuing to trade within the descending short term channel. Momentum indicators are showing positive signs that might lead to achieving minor bullish correction that will reach 77.00; followed by the over bearish direction resuming and targeting mainly 75.45 then 74.50. Expectations of a bearish direction, requires the four-hour interval to close below 77.00.
The trading range for today is among the key support at 74.50 and the key resistance at 78.50.
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/2010/01/22/06-52-29/index.htm
George.
Click on "In reply to", for Authors past commentaries.
* Friday January 22, 2010
Oil
Morning Report
Crude succeeded in achieving the awaited main bullish targets for our daily and weekly reports at 75.60 continuing to trade within the descending short term channel. Momentum indicators are showing positive signs that might lead to achieving minor bullish correction that will reach 77.00; followed by the over bearish direction resuming and targeting mainly 75.45 then 74.50. Expectations of a bearish direction, requires the four-hour interval to close below 77.00.
The trading range for today is among the key support at 74.50 and the key resistance at 78.50.
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/2010/01/22/06-52-29/index.htm
George.
Click on "In reply to", for Authors past commentaries.
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