Edition:  English |   عربي 
Edition:  English |   عربي 
Edition:  English |   عربي 
Edition:  English |   عربي 
U.S. MARKETS
EURO MARKETS
ASIA MARKETS
Daily Reports  Friday April 29 , 2011 06:26 GMT
Technical Oil
Share |
Oil Report


Morning Report

oil29 

Trading is around 112.45, and the harmonic formation is still valid, trading above 111.00 keeps this possibility valid towards 115.55 and we might see the CD leg extension towards 118.45. Therefore, we see that the upside move remains intact.

The trading range for today is among the major support at 109.75 and the major resistance at 115.70.

The short term trend is to the upside with steady daily closing above 105.75 targeting 118.45.

Previous Report 

Weekly Report 



Support112.20111.45111.10110.65110.20

Resistance112.85113.05113.85114.50115.55

RecommendationBased on the charts and explanations above our opinion is buying crude around 112.20 and take profit in stages at 114.50, and 115.55 and stop loss with four-hour closing below 111.00 might be appropriate


 
Note: Our website content is subject to errors, changes and updates; the use of the websites constitutes your acceptance of our Privacy Policy

Risk Disclaimer: The content of icn.com and any page in the website contain information for investors/traders and is not a recommendation to buy or sell currencies, stocks, gold, silver & energies, nor an offer to buy or sell currencies, stocks, gold, silver & energies.

The information provided reflects the writers' opinions that deemed reliable but is not guaranteed as to accuracy or completeness. ecPulse is not liable for any losses or damages, monetary or otherwise that result.

I recommend that anyone trades currencies, stocks, gold, silver & energies should do so with caution and consult with a broker before doing so. Prior performance may not be indicative of future performance. Currencies, stocks gold, silver & energies presented should be considered speculative with a high degree of volatility and risk.
2012 ICN.COM All Rights Reserved.