advertisement
Friday September 23 , 2011 10:11 GMT
Oil Report
Midday Report: Crude Oil Futures November Settlement
No major changes since morning, the commodity continues to consolidate above 80.00 level, where RSI is clearly oversold over four-hour basis, and upside attempts were well capped below 82.00. Bearishness is still in favor for the rest of the day, taking into consideration that rallies that carry the commodity above 83.00 may trigger more intraday bullishness.
The trading range for the day is among the major support at 75.70 and the major resistance at 83.00.
The short-term trend is to the downside with steady daily closing below 100.00 targeting 65.00.
| Support | 80.00 | 79.40 | 78.30 | 77.70 | 76.80 |
| Resistance | 81.70 | 82.20 | 83.00 | 83.40 | 84.00 |
| Recommendation | Based on the charts and explanations above we recommend selling oil around 82.20 targeting (80.00,77.70,76.00) and stop loss with four-hour closing above 83.20 OR selling oil with four-hour closing below 80.00 targeting 77.70 and 76.00, stop loss four hour closing above 80.30 | ||||
To read the full story, ClickHere
Home | Contact Us | More News
ecPulse.com has sent you this message.
To ensure you receive such e-mails in the future, please add ecPulse.com to your list of approved senders.
To ensure you receive such e-mails in the future, please add ecPulse.com to your list of approved senders.
No comments:
Post a Comment