Analys från ForexYard
Crude Oil (Oct 13) MT: further advance.
Pivot: 102.20
Our Preference: Bullish as long as 102.2 is support with targets at 114.7 and 118.25 in extension.
Alternative Scenario: Below 102.2 eye a drop towards 99 and 91.3 in extension.
Comment: the upward breakout of the bullish flag pattern signals the end of the pause and resumption of the preceding up trend.
Trend: ST Bullish; MT Bullish, we have been bullish since 19 JUN 2013 (98.8).
Key levels Comment
125.9 Fib projection
118.75 Fib projection
114.7 Horizontal resistance
110.1 Last
102.2 Pivot point
99 Horizontal support
91.3 Horizontal support
Copyright 1999 – 2013 TRADING CENTRAL
Pivot: 116
Our preference: long positions above 116 with targets @ 123.8 126 in extension.
Alternative scenario: below 116 look for further downside with 113.85 110 as targets.
Comment: the RSI is well directed.
Supports and resistances:
127.7 **
126 ***
123.8 ***
121.628 Last
116 ***
113.85 ***
110 **
Copyright 1999 – 2016 TRADING CENTRAL
Pivot: 32.8
Our preference: long positions above 32.8 with targets @ 34.84 35.9 in extension.
Alternative scenario: below 32.8 look for further downside with 31.7 30.6 as targets.
Comment: the break above 32.8 is a positive signal that has opened a path to 34.84.
Supports and resistances:
36.7
35.9
34.84
33.58 Last
32.8
31.7
30.6
Copyright 1999 – 2016 TRADING CENTRAL
Pivot: 35
Our preference: short positions below 35 with targets @ 26 23.3 in extension.
Alternative scenario: above 35 look for further upside with 38.5 43.5 as targets.
Comment: investors have to remain cautious since these levels may trigger profit taking.
Supports and resistances:
43.5 **
38.5 **
35 ***
33.82 Last
26 ***
23.3 **
20 **
Copyright 1999 – 2016 TRADING CENTRAL
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