Thursday, January 28, 2016

Forex - Chart NYMEX Mar Crude Oil Update: Nice try, but not convinced yet; 33.34 is what we are watching on the close

15::35 GMT - CLH6 power break through 33.34 and intraday reversal back below does not convince us that a 'real and sustained' breakout is happening. We will not jump on this move at this time and will wait to see if WTI can first close above 33.34. That is what we need to see to suggest that a breakout could take the mkt up to the 36.48 level soon. R.Z

R5: 37.85 * 50-day MA
R4: 36.48 * 21 Dec low
R3: 35.25 projection
R2: 35 figure
R1: 33.34 * 07 Jan low
S1: 32.84 27 Jan high
S2: 31.74 28 Jan low
S3: 29.25 * 26 Jan low
S4: 27.56 * 20 Jan low
S5: 26.65 * Sep '03 contin low

Forex - Chart NYMEX Mar Crude Oil Update: Nice try, but not convinced yet; 33.34 is what we are watching on the close Rating: 4.5 Posted by: Unknown

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