Oil

The price of the crude oil reached 38.2% Fibonacci level which turned into resistance at 96.20, to bounce down and resume the bearish trend, approaching the key support level at 94.30, as this level represents the confirmation key to continue the bearish trend towards the next target at 93.15. Stochastic heads to the downside to support the bearish wave, which remains valid unless 95.55 – 96.20 levels were breached.
http://charts.mql5.com/1/892/cl-h4-instaforex-group.png

time frame- H4
the price has been rejected from the resistance at 96.00 and moving down side but at this level rsi indicator is below the 50 level. if the price is not able to hold at the 94.50 we can short with the take profit at 92.90 and stop loss at the 96.50
good luck.

today i buy Oil @ 94.33
my stop loss of the day @ 94.00
half take profit for today @ 94.67
and further half take profit @ 95.10

Update:
The price of the crude oil tested 50% Fibonacci correction level which represents now resistance at 95.20, keeping the stability below this level, to continue in our bearish trend expectations efficiently for today, waiting for targets that begin by surpassing 94.30 to open the way towards 93.15.
http://charts.mql5.com/1/895/cl-h4-instaforex-group.png

---------- Post added 06-27-2013 at 06:49 AM ---------- Previous post was 06-26-2013 at 03:50 PM ----------

The price of the crude oil bounced higher to settle now near 96.20, and by looking deeper in the image, we find that the price is drawing a double bottom pattern where its neckline at 96.20, which means that breaching above this level will provide bullish targets that approach from 100.00. Stochastic provides overbought signals, which contradicts with the mentioned pattern, and this contradiction makes us need to stay aside in order to monitor the price behavior according to 96.20 resistance and 95.20 support.
http://charts.mql5.com/1/901/cl-h4-instaforex-group.png

Our preference: LONG positions above 93.7 with targets @ 96.1 & 96.7.
Alternative scenario: The downside penetration of 93.7 will call for 93.1 & 92.6.

dearfriend due to international market weakness oil never break the resistance level and check it and make trades on it it is also a good investment option.

Update:
The price of the crude oil finds solid resistance at the morning mentioned neckline at 96.20, to test now the EMA50 which forms a support line at 95.50, and until now, our neutral attitude remains valid waiting to confirm the price’s next trend, which we will get by monitoring the price behavior according to the key levels mentioned in our morning report.
http://charts.mql5.com/1/904/cl-h4-i...ex-group-2.png

today i like to Oil @ 97.70
my stop loss of the day @ 98.05
half take profit for today @ 97.40
and further half take profit @ 97.10

No doubt oil should be marking out the first leg of a larger correction. Shoud fade over 94(94.15) below 94.15 for 92.50 again before 96.00. I have selling position in 94.25 and will closed after 100 pips profit.thanks for asking

The price of the crude oil breached the neckline of the double bottom pattern at 96.20, to activate this pattern which has targets reach near 100.00 barrier.
The price needs now to breach 97.30 to confirm the continuation of the bullish trend, which is supported by EMA50 and the positive overlapping signal provided by stochastic now.
Breaking below 96.20 will stop the positive scenario and lead to bring back the bearish correctional pressure again.
http://charts.mql5.com/1/910/cl-h4-instaforex-group.png