
6

1
Crude Oil Daily Technical Outlook
Wed, Jan 14 2009, 11:20 GMT
by Oil N' Gold Team
Oil N' Gold
Nymex Crude Oil (CL)
With 4 hours MACD crossed above signal line, an intraday low should be in place in crude oil and some consolidation would be seen for the moment. Nevertheless, recovery should be limited by 43.86 resistance and bring fall resumption to retest 34.98 low. Break will confirm that medium term down trend is resuming. On the upside above 43.86 will turn short term outlook neutral and put focus back to 50.47 resistance.
In the bigger picture, failure to sustain above 50.05 resistance dampens the case that a medium term bottom is formed at 34.98. With medium term trend line resistance intact, there is no confirmation of completion of the down trend neither. Break of 34.98 will indicate that such down trend from 147.27 has resumed for lower end of the current medium term support zone at 25.04.
On the upside, however, a break above 50.47 will firstly indicate that rise from 34.98 has resumed. More importantly, the possible head and shoulder bottom formation (ls: 40.50, h, 34.98, rs: ?) will revive that case that a medium term bottom is formed. Strong rally should be seen in such case which should take out the mentioned trend line resistance with ease and should target 90.51 medium term support turned resistance (50% retracement of 147.27 to 24.98 at 91.25)
Nymex Crude Oil Continuous Contract 4 Hours Chart and Daily Chart
Published on
Wed, Jan 14 2009, 11:21 GMT
Archive
- Gold Daily Technical Outlook
Published On Mon, Nov 23 2009, 11:27 GMT
- Gold Weekly Technical Outlook
Published On Sat, Nov 21 2009, 08:19 GMT
- Gold Daily Technical Outlook
Published On Thu, Nov 19 2009, 11:23 GMT
- Gold Daily Technical Outlook
Published On Wed, Nov 18 2009, 10:42 GMT
- Silver Daily Technical Outlook
Published On Tue, Nov 17 2009, 11:51 GMT
[ View All ]
Action Forex Company Limited
| Room 1707, 17/F Treasure Centre 42 Hung To Road Kwun Tong, Kowloon
http://www.oilngold.com/ | contact@oilngold.com
Legal disclaimer and risk disclosure
Oil N' Gold does not guarantee the accuracy of the reports and trading recommendations provided. Any market recommendations of, or information provided by Oil N' Gold do not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell any foreign exchange transaction.
Related reports
Forex Chartist Technical Analysis - GBP/USD & EUR/USD by Charmer Charts.com
Tue, Nov 24 2009, 07:15 GMT
Daily Forex and Dow Jones Recommended Levels by FXtechtrade
Tue, Nov 24 2009, 06:09 GMT
Technical Market Commentary - Technical Market Commentary by India Forex Advisors
Tue, Nov 24 2009, 05:58 GMT
Daily FX Forecast by S.A.F.E. Ltd
Tue, Nov 24 2009, 05:51 GMT
Market Morning Briefing - Market Morning Briefing by Kshitij Consultancy Service
Tue, Nov 24 2009, 05:45 GMT
eurusd, oil, commodities, gbpusd, usdchf, usdjpy, energies
View All
Related content
Forex: USD/JPY: Yen down to test range floor at 88.55/65
FXstreet.com | Tue, Nov 24 2009, 07:48 GMT
GLOBAL MARKETS: European Stocks Seen Lower On Cash Exit
Dow Jones | Tue, Nov 24 2009, 07:41 GMT
Forex: GBP/USD: Pullback from 1.6650 extends below 1.6550
FXstreet.com | Tue, Nov 24 2009, 07:35 GMT
Forex: EUR/USD: Euro accelerates downtrend, testing 1.4900
FXstreet.com | Tue, Nov 24 2009, 07:18 GMT
Asian markets decline on concerns about Japan; Euro and Pound trim gains
FXstreet.com | Tue, Nov 24 2009, 07:07 GMT
eurusd, oil, commodities, gbpusd, usdchf, usdjpy, energies
View All
FX Market Readings » Volatile move Vs false move
Tue, Nov 24 2009, 07:52 GMT
FX Market Readings » Early US session
Tue, Nov 24 2009, 00:42 GMT
ForexHedge » Airbus Euro’s or Boeing Dollars ?
Mon, Nov 23 2009, 15:45 GMT
Chartology » Two Looks at the Short Term 15min EUR/USD
Mon, Nov 23 2009, 15:41 GMT
Tech Trading » EUR/USD Towards 1,5060
Mon, Nov 23 2009, 12:08 GMT
eurusd, oil, commodities, gbpusd, usdchf, usdjpy, energies
View All
Gbpusd - Forex Forum - FXstreet.com
Tue, Apr 28 2009, 14:55 GMT
Technical analysis for EUR/USD, GBP/USD - Page 5 - Forex Forum - FXstreet.com
Fri, Oct 10 2008, 12:07 GMT
Yellowlion's Daily EURUSD - Page 6 - Forex Forum - FXstreet.com
Fri, Oct 10 2008, 12:07 GMT
Elliott charts with Grega H. - Page 2 - Forex Forum - FXstreet.com
Fri, Oct 10 2008, 12:05 GMT
Technical analysis for EUR/USD by AceTrader - Forex Forum - FXstreet.com
Fri, Oct 10 2008, 12:03 GMT
eurusd, oil, commodities, gbpusd, usdchf, usdjpy, energies
View All
Outlook for the major currencies this week
Ian Copsey | Tue, Sep 30 2008, 08:00 GMT
FX Instructor Live Trading Room
Mark De La Paz | Tue, Sep 30 2008, 11:00 GMT 
The Weather Report: Ichimoku Cloud Trading
Chris Capre | Tue, Sep 30 2008, 14:00 GMT
FX Instructor Live Trading Room
Mark De La Paz | Wed, Oct 1 2008, 09:00 GMT
Weekly Webinar: 1st on Forex - The Week Ahead
Jerry Furst | Mon, Oct 6 2008, 16:00 GMT
eurusd, oil, commodities, gbpusd, usdchf, usdjpy, energies
View All
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our
user agreement. Please read our
privacy policy and legal disclaimer.
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.
Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
©2009 "FXstreet.com. The Forex Market" All Rights Reserved.