Wednesday, February 23, 2011
Updates - Crude going Higher
Crude Oil April Futures touched $100 today because of the ongoing turmoil in North Africa (Libya) & Middle-East. It seems to be going even higher as noted below.
Monday, February 21, 2011
Updates - Crude can go Higher - Touched $98 and going higher
Crude April Futures touched $98 today because of the bad political situation in North Africa and Middle-East. It rose from $91 to $98 in one day. This rise may be a bit overdone and it might consolidate in $95-$98 range but if the protests in these countries are not controlled (which doesn't seem to be the case, the next target for Crude would be $108. Technically, the downchannel in an uptrend most of times gives a strong upward breakout and that is what happened here. Its advisable to book partial profits at these levels and hold the remaining.
Thursday, February 3, 2011
Updates - Crude can go Higher
Crude is still trading in the middle of band and on its way to the target $98.
Tuesday, February 1, 2011
Updates - Crude can go Higher
Minor cooling down after Monday's rally. Would be back on track on Wednesday for the rise. Hold the longs.
Monday, January 31, 2011
Updates - Crude can go higher
Crude rallied more than 3.5% to $92.7 from $89.5. It might not explode to $98 but would slowly move towards it. Hold it long.
Sunday, January 30, 2011
Updates - Crude going Higher
Crude Oil April Futures touched $100 today because of the ongoing turmoil in North Africa (Libya) & Middle-East. It seems to be going even higher as noted below.
Monday, February 21, 2011
Updates - Crude can go Higher - Touched $98 and going higher
Crude April Futures touched $98 today because of the bad political situation in North Africa and Middle-East. It rose from $91 to $98 in one day. This rise may be a bit overdone and it might consolidate in $95-$98 range but if the protests in these countries are not controlled (which doesn't seem to be the case, the next target for Crude would be $108. Technically, the downchannel in an uptrend most of times gives a strong upward breakout and that is what happened here. Its advisable to book partial profits at these levels and hold the remaining.
Thursday, February 3, 2011
Updates - Crude can go Higher
Crude is still trading in the middle of band and on its way to the target $98.
Tuesday, February 1, 2011
Updates - Crude can go Higher
Minor cooling down after Monday's rally. Would be back on track on Wednesday for the rise. Hold the longs.
Monday, January 31, 2011
Updates - Crude can go higher
Crude rallied more than 3.5% to $92.7 from $89.5. It might not explode to $98 but would slowly move towards it. Hold it long.
Sunday, January 30, 2011
Crude can go higher
Technicals: Crude is trading in an uptrending band on the weekly chart. On the daily chart, it started trading below the band but came back up inside the band with a rally. Crude is looking good for higher targets.
Fundamentals: Unrest in Egypt is leading to a push up in the Crude prices. Also, the rising demand seems to undermine the rallying Dollar effect.
Opinion: Buy Crude Oil for a target of $98 unless it breaks below the band. $80-86.5 is a good support zone for Crude.
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