advertisement
Thursday October 27 , 2011 10:02 GMT
Oil Report
Midday Report:Crude oil futures for December settlement
The commodity may be forming an intraday bullish continuation flag pattern, suggesting that bullishness may continue. Our suggested bullish scenario was activated this morning after oil dipped just below 91.55 within a normal downside pullback. To the upside breaching 92.30-92.40 may accelerate the bullish move toward our targets, while a dip below 90.60 may send the commodity lower towards 89.60.
The trading range for the day is among the major support at 89.60 and the major resistance at 96.00.
The short-term trend is to the downside with steady daily closing below 100.00 targeting 65.00.
*The provided chart based on GMT+3
| Support | 91.50 | 90.60 | 90.00 | 89.60 | 88.60 |
| Resistance | 92.30 | 93.00 | 93.85 | 94.50 | 95.00 |
| Recommendation | Our morning expectations remain valid. | ||||
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