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By: Crown Forex - 29-08-2008
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As we expected yesterday the grouping of the Moving Averages took crude to reach 120 levels, while failing to consolidate above that level set crude to take a sideways wave which is expected to continue today; the range for the wave is wide where it extends among 121.45 resistance level and 111.95 support level and for that trading among those levels is considered within the sideways correction for the downside medium term trend.
The trading range for today is expected among the key resistance level at 121.45 and the key support level at 111.95.
The general trend is to the upside as long as 100.00 remains intact, targets now are at 150.00 and 153.65.Support 116.00 115.40 114.20 113.00 112.90 Resistance 117.20 118.75 119.80 120.15 121.45 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
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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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