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By: Crown Forex - 27-08-2008
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Failing to breach the multiple support area that extents among 113.00 and 111.50 after crude set the low of 112.45 it resumed then another upside move as we expected. Today prices are trading above the 100 MA on four-hours basis at 116.25 as well around 50.0% correction level for the long term at 116.80 we expect a strong potential for the upside wave to prevail today as far as trading is above 114.25 yet again it is just for the short-term while over the medium term it is still to the downside targeting 109.50.
The trading range for today is expected among the key resistance level at 121.95 and the key support level at 109.50.
The general trend is to the upside as long as 100.00 remains intact, targets now are at 150.00 and 153.65.Support 116.25 115.50 114.10 112.55 111.60 Resistance 116.80 117.35 118.50 120.25 121.95 Recommendation ..
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CROWN FOREX SA, located at St-Hubert 38, 2854 Bassecourt, P.o.box 247, Switzerland, is fully regulated as a financial intermediary under Swiss federal law on the prevention of money laundering (LBA, MLA). Our company is also affiliated with the ARIF association, thus overseen by the Swiss federal de
DISCLAIMER:
The above may contain information for investors/traders and is not a recommendation to buy or sell currencies, gold, silver & energies, nor an offer to buy or sell currencies, gold, silver & energies. The information provided is obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. I am not liable for any losses or damages, monetary or otherwise that result. I recommend that anyone trading currencies, 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, gold, silver &energies presented should be considered speculative with a high degree of volatility and risk
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