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Wednesday, February 03, 2010 9:12:28 AM
Technical Oil Report
* Wednesday February 3, 2010
Oil
Morning Report
Crude succeeded in achieving the bullish technical scenario, mentioned in the midday report yesterday, where it managed to achieve the main target at 76.80 while targeting this level and achieving a daily closing above it. This makes us expect more possible bullish direction for today; targeting mainly 79.50, while noting the importance of resistance remaining at 78.15 could force crude to achieve some bearish correction, before continuing the expected bullish direction that requires trading to stabilize above 75.10.
The trading range for today is among the key support at 75.10 and the key resistance at 79.50.
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/2010/02/03/07-03-27/index.htm
George.
Click on "In reply to", for Authors past commentaries.
* Wednesday February 3, 2010
Oil
Morning Report
Crude succeeded in achieving the bullish technical scenario, mentioned in the midday report yesterday, where it managed to achieve the main target at 76.80 while targeting this level and achieving a daily closing above it. This makes us expect more possible bullish direction for today; targeting mainly 79.50, while noting the importance of resistance remaining at 78.15 could force crude to achieve some bearish correction, before continuing the expected bullish direction that requires trading to stabilize above 75.10.
The trading range for today is among the key support at 75.10 and the key resistance at 79.50.
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/2010/02/03/07-03-27/index.htm
George.
Click on "In reply to", for Authors past commentaries.
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