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14-07-2008 - Crown Forex | Futures Technical Reports
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Crude was able to set new all time highs in a shorter than expected time span before reversing to the downside after being heavily overbought. The upside wave remains valid and targets are now higher at 147.95 and if that level was breached nothing stands in the way of cured till 152 per barrel. Crude prices have designed a daily pattern for a while now as with the beginning of trading it attempts to exhaust the saturation whether it was with buying or selling orders ahead of committing to the original trend, and that is what we expect for today as well as crude will slide to let off some of the buying saturation over intraday basis while if it succeeded in consolidating above 145.60 a new strong upside wave will be initiated.
The trading range for today is expected among the key resistance level at 149.30 and the key support level at 138.00.
The general trend is to the upside as long as 100.00 remains intact, targets now are at 150.00 and 153.65.
Support 143.60 142.60 140.70 138.64 138.00 Resistance 145.60 146.40 148.05 149.30 150.00 Recommendation
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Crown Forex 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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