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By: Crown Forex - 25-08-2008
0votes
Oil failed to resume trading above 118 levels which resumed it to neutral sideways move; the short-term is now a sideways move affected by 111.75 and as well the 100 MA for 4-Hours basis at 117.45; nevertheless we expect the wave to have an upside bias over the short term while over the medium term the trend remains to the downside within the wave that started 11-07-2008 still targeting 109.50.
The trading range for today is expected among the key resistance level at 120.05 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 114.10 113.15 112.55 111.75 109.50 Resistance 115.30 116.55 118.00 118.90 120.05 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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