We continue to see more interest in pushing the upside, but we just can’t build the momentum. I’m not all that convinced this is a bearish signal, but our time to get this going is running out. We’re going to need to see that move above 9000 by week’s end or a move to the downside support is inevitable. That means we’re going to test the 8758 area and then look below to the 8613 and 8555 levels.
If we do find passion to rally, we’re going to look up to 8905, 9011 and 9145. The front spread has seen it’s share of pressure from the fund roll and we we’re surprised the close here yesterday didn’t yield more action. The push back up to test resistance at –56 has us thinking –52. Flat price will challenge 9000, but our call remains on the momentum.
Techies, Trekkies
200 Day MA: 9355
100 Day MA: 9096
13 Day MA: 8792
8 Day MA: 8808
14 Day RSI: 53.28
There’s not a lot to like about direction on the 10min chart unless you love indecision. The move overnight just held a range of 8830 to 8920. Nothing great about this, but we’re sure that we’ll have some breakout today with all of the fundamentals at play. The 60min chart may have a slow moving uptrend channel with the 8770 level holding a support line. The upside channel resistance is a matter of opinion and will come in on our chart around the 8970 area.
By Carl Larry
- English (UK)
- English (India)
- English (Canada)
- English (Australia)
- English (South Africa)
- English (Philippines)
- English (Nigeria)
- Deutsch
- Español (España)
- Español (México)
- Français
- Italiano
- Nederlands
- Português (Portugal)
- Polski
- Português (Brasil)
- Русский
- Türkçe
- العربية
- Ελληνικά
- Svenska
- Suomi
- עברית
- 日本語
- 한국어
- 简体中文
- 繁體中文
- Bahasa Indonesia
- Bahasa Melayu
- ไทย
- Tiếng Việt
- हिंदी
WTI Crude Oil, No Bearish Signal Seen
Published 12/06/2012, 12:20 AM
Updated 05/14/2017, 06:45 AM
WTI Crude Oil, No Bearish Signal Seen
Latest comments
Loading next article…
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.