Market Analysis

Fundamental

Technical

Futures

Central Banks

Forex Brokers

Trading Tools

More Tools

 

Starting Crude Futures Contracts for September Settlement

21-07-2008 - Crown Forex  |   Futures Technical Reports
Rate this article:
Currently 0.00/5
Rating: 0.0/5 (0 votes cast)
Previous Analysis | Next Analysis 
 
Text Size
Print
Email
Add a Comment
Add to Favorites

Prices are now trading at a critical levels for the medium-term trend which are resembled within scattered support levels spreading among 129.00-127.80; trading above those levels provides strong upside momentum for crude while breaching them extend downside targets until 124.05 which is the 28.2% Fibonacci Correction level for the wave that started on 06-12-2007 until 11-07-2008. Momentum indicators show that the mentioned support area as we said that extends among 129.00-127.80 is strong enough to resume the upside while still caution must be deployed when trading around critical levels that might divert the trend; nonetheless we still expect a bullish heading for crude today and tomorrow.

The trading range for today is expected among the key resistance level at 138.75 and the key support level at 124.05.

The general trend is to the upside as long as 100.00 remains intact, targets now are at 150.00 and 153.65.

Support129.05127.80126.00125.20124.05
Resistance131.55132.25133.95135.35137.90
Recommendation
Content Provided by:
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
Become a member and get 6 free Forex courses by OTA!

 
  • Charts
Forex pairs
 
  • Promotions
 
 

 
  • Webmaster Tools
Economic Calendar
Interest Rates
RSS
Live Currency Cross Rates
Exchange Rates Table
 
 
  • Survey

Which is more important for you on our site:

Streaming rates
Leading stocks
World indices
Interest rates
Futures prices
All of the above

 
ForexPros.com Newsletter
 

 
  • Sponsored Links
 
 

Special Offers: