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Oil - 23/12/2011 - waiting for the level of contact with the falling channel resistance
Comes into contact with the oil price now is the level of resistance to the falling channel referred to yesterday, and shown above, near $ 100 a barrel, accompanied by the stochastic entering overbought, and this indicates that the turning point downward potential now is to continue trading as normal in this channel.
However, due to weak trading volume in the market which causes confusion in the trading current, along with the fact that this channel may be a model science longevity leads to rise, we prefer neutral now, as the signals Professional now may not provide credible evidence of the market can be relied upon in full, and processes to reap the potential profits that could hit the market at any moment.
Expected trading range for today is between: Support Resistance 95.00 102.00
General tendency is expected for today: neutral
Comes into contact with the oil price now is the level of resistance to the falling channel referred to yesterday, and shown above, near $ 100 a barrel, accompanied by the stochastic entering overbought, and this indicates that the turning point downward potential now is to continue trading as normal in this channel.
However, due to weak trading volume in the market which causes confusion in the trading current, along with the fact that this channel may be a model science longevity leads to rise, we prefer neutral now, as the signals Professional now may not provide credible evidence of the market can be relied upon in full, and processes to reap the potential profits that could hit the market at any moment.
Expected trading range for today is between: Support Resistance 95.00 102.00
General tendency is expected for today: neutral
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