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Monday, March 26, 2012 9:40:08 AM
Technical Weekly Oil Report
* Monday, March 26, 2012
Oil Report
Weekly Report 26-30 March
> See Charts
A clear breach above the main descending resistance for the continuation technical pattern colored in pink. This pattern may lead to resuming the bullish trend again, especially that price settled back above 107.00-107.60, which is an important harmonic levels (please check our midday report later for more details). We may see some fluctuations and a correction to retest 107.00 or maybe a little lower, however trading above 106.45 shall keep the positive bias intact within the upcoming sessions.
The trading range for the week is among the major support at 103.35 and the major resistance at 111.20.
The short-terd trend is to the upside with steady daily closing above 99.60, targeting 116.50.
http://ecpulse.com/en/dailyreports/technicaloil/2012/03/19/06-31-07/index.htm
George.
Click on "In reply to", for Authors past commentaries.
* Monday, March 26, 2012
Oil Report
Weekly Report 26-30 March
> See Charts
A clear breach above the main descending resistance for the continuation technical pattern colored in pink. This pattern may lead to resuming the bullish trend again, especially that price settled back above 107.00-107.60, which is an important harmonic levels (please check our midday report later for more details). We may see some fluctuations and a correction to retest 107.00 or maybe a little lower, however trading above 106.45 shall keep the positive bias intact within the upcoming sessions.
The trading range for the week is among the major support at 103.35 and the major resistance at 111.20.
The short-terd trend is to the upside with steady daily closing above 99.60, targeting 116.50.
http://ecpulse.com/en/dailyreports/technicaloil/2012/03/19/06-31-07/index.htm
George.
Click on "In reply to", for Authors past commentaries.
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