Replies to post #301 on Energy (Oil & Gas) Stocks | NYSE | AMEX | NASDAQ

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Technical Oil Report

* Wednesday January 13, 2010


Oil

Morning Report


Crude succeeded in breaching pivotal support according to our suggested scenario in yesterday's report, where it surpassed the first target at 80.70 – 23.6% Fibonacci correction – heading to attempt to try to reach the upcoming correction level at 78.70 as the upcoming main target for the current bearish wave, while we see that the expected overall direction for today is bearish, but could force the pair to attempt some bullish correction due to positive signs appearing through momentum indicators, in addition to retesting breach support at 80.70. It is essential that 81.35 remain intact for the expected bearish direction to prevail.

The trading range for today is among the key support at 78.70 and the key resistance at 82.30.

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/2010/01/13/06-49-54/index.htm

George.

Click on "In reply to", for Authors past commentaries.

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Technical Weekly Oil Report

* Monday January 18 , 2010


Oil

Weekly Report 18 – 22 / 1 / 2010


Crude is moving to the downside in an organized way after recording high from $84.00 per barrel to start a bearish correction that we think will reach 76.4% Fibonacci correction; meeting with main support for the bullish short term direction. This descend is supported by the breach of the neckline for the bearish technical pattern at 78.65. We expect that the positive signs that momentum indicators are showing will push the pair to retest this breach. From here, we expect the expected direction for this week to be bearish on the overall; targeting $73.70 per barrel and require the daily closing below 80.50.

The trading range for today is among the key support at 73.70 and the key resistance at 82.25.

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/2010/01/18/07-07-11/index.htm

George.

Click on "In reply to", for Authors past commentaries.