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Friday, February 12, 2010 2:52:11 PM
U.S. Dollar rebound could see Crude oil prices plunge
Finotec Group Inc. , Finotec Group Inc.
Published 02/12/2010 - 11:26 a.m. EST Rate This Article:
Finotec Group Inc.
Website:
http://www.finotec.com
Email:
support@finotec.com
Crude oil fell in New York for the first day in five as the dollar extended gains against the euro and analysts forecast an increase in U.S. stockpiles, signaling weak demand in the biggest energy-consuming nation. Oil slipped below $75 a barrel after the dollar strengthened on speculation the European Union will fail to take sufficient measures to help Greece tackle its fiscal deficit, damping the investment appeal of commodities.
Trading Tactics
Sell Crude Oil on a clear downtrend.
The buying point is at 77.50; previous resistance is the take profit at 80.20; Pivot point is the stop loss at 76.16
The selling point is at 74.72; Pivot point is the take profit at 72.45; pivot point highest level is the stop loss at 77.10
Technical: crude oil fails to breaks the previous resistance and makes a lower low that gives us a clear downtrend. A move back lower could set up a test of 72.45
To strengthen our analysis; we use many other indicators, starting with MACD (Moving Averages convergence divergence); we notice MACD crosses the signal line downwards; RSI (Relative Strength Index) is in a downtrend; ROC is in a bearish direction and stochastic crosses %D line downwards.
The following analysis is for information only; Finotec is not responsible for any decisions or misinterpretations based on the given text.
By Finotec’s professional analyst,
Copyright 2008 ForexHound.com the Forex Trading Portal. All Rights Reserved. V407 Home | About Us | Advertising |
http://www.forexhound.com/article/Technicals/Daily_Reports/US_Dollar_rebound_could_see_Crude_oil_prices_plunge/183733
Finotec Group Inc. , Finotec Group Inc.
Published 02/12/2010 - 11:26 a.m. EST Rate This Article:
Finotec Group Inc.
Website:
http://www.finotec.com
Email:
support@finotec.com
Crude oil fell in New York for the first day in five as the dollar extended gains against the euro and analysts forecast an increase in U.S. stockpiles, signaling weak demand in the biggest energy-consuming nation. Oil slipped below $75 a barrel after the dollar strengthened on speculation the European Union will fail to take sufficient measures to help Greece tackle its fiscal deficit, damping the investment appeal of commodities.
Trading Tactics
Sell Crude Oil on a clear downtrend.
The buying point is at 77.50; previous resistance is the take profit at 80.20; Pivot point is the stop loss at 76.16
The selling point is at 74.72; Pivot point is the take profit at 72.45; pivot point highest level is the stop loss at 77.10
Technical: crude oil fails to breaks the previous resistance and makes a lower low that gives us a clear downtrend. A move back lower could set up a test of 72.45
To strengthen our analysis; we use many other indicators, starting with MACD (Moving Averages convergence divergence); we notice MACD crosses the signal line downwards; RSI (Relative Strength Index) is in a downtrend; ROC is in a bearish direction and stochastic crosses %D line downwards.
The following analysis is for information only; Finotec is not responsible for any decisions or misinterpretations based on the given text.
By Finotec’s professional analyst,
Copyright 2008 ForexHound.com the Forex Trading Portal. All Rights Reserved. V407 Home | About Us | Advertising |
http://www.forexhound.com/article/Technicals/Daily_Reports/US_Dollar_rebound_could_see_Crude_oil_prices_plunge/183733
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