منتديات المتداول العربي - عرض مشاركة واحدة - ورشة المعادن و السلع والعملات (( هارمونيك + كلاسيكي))

elecom1981 · 16-07-2008, 12:00 PM

Technical Report:
Yesterday’s trading range was over 10$. Significantly we broke above Mondays high (145.45) but failed to rally on the break. We came down to a Low of 134.96 just piercing the 40 day moving average only to recover swiftly and continue trading within the current sideways range.
The short term trend is sideways while the medium and long term trends remain bullish.

Support: $135.40 (40 day moving average) Resistance: $144.73 (high of 7th July 08)
Support: $134.96 (yesterdays low) Resistance: $143.91 (high of 30th June 08)
Support: $131.70 (Low 20th June 08) Resistance: $142.90 (high of 8th July 08)

Summary:
Initial weakness in the market yesterday was seen due to the Abit eyeOlero crude pipeline in Nigeria back in service, we then rallied above the previous days high due to fresh buying on t he back of USD collapse. We saw a sudden drop in the market of over $7 in the late afternoon due to reports of a crude sell off believed to be related to fund liquidation and Fed Reserve Chairman Ben Bernanke’s testimony before the Senate Banking committee with focus on inflation and rising prices versus economic growth.