Recommendation of the oil trade today, December 15, 2011(12:15 GMT)forex
Pivot point trading: 94.10forex
Recommendation: to engage in purchases of oil above 94.10with target levels of 96.5 & 97.6
Alternative scenario: If the downward breach of the level of 94.10, is expected to pave the way to reach to 93.3 & 92.5
Comment: the RSI on the chart record oil breakthrough bullish(not confirmed yet)forex
Direction: upward trend in the short term, and the upward trend in the medium term.
Levels of resistance
99 - the level of resistance during the trading day
97.6-resistance level during the trading day
96.5-resistance level during the trading day
Last Price: 95.79
Levels of support
94.1-a focal point during the trading day
93.3-the level of support during the trading day
92.5-the level of support during the trading day
Pivot point trading: 94.10forex
Recommendation: to engage in purchases of oil above 94.10with target levels of 96.5 & 97.6
Alternative scenario: If the downward breach of the level of 94.10, is expected to pave the way to reach to 93.3 & 92.5
Comment: the RSI on the chart record oil breakthrough bullish(not confirmed yet)forex
Direction: upward trend in the short term, and the upward trend in the medium term.
Levels of resistance
99 - the level of resistance during the trading day
97.6-resistance level during the trading day
96.5-resistance level during the trading day
Last Price: 95.79
Levels of support
94.1-a focal point during the trading day
93.3-the level of support during the trading day
92.5-the level of support during the trading day
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