Oil

Oil market have huge volatility, then the currency market and I think novice trader should not negotiate in this market because the understanding of this market is not easy to trade with oil and negotiation with that dealer market should invest huge dollar.

Oil continues to fall, the price broke through the cloud of Ichimoku confidence and confidence strengthened below it, is now the main medium-term trend - south, has just completed a course correction and resumed the northern fall, the goal is now 85.00.

http://i47.tinypic.com/5n94e8.gif

The short term trend of the pair is to the upside. Intraday trading range of the pair is expected among key support at 88.00 and key resistance at 92.00. Based upon my chart analysis, I prefer to buying the Oil with a break above 89.00 with targets 90.00 then 91.40 and stoploss with four hour candle closing below 88.00.

long positions at 89.1500 with 90.4600 and 92.2900 as next targets

the breakout of 87.9700 will call for a rebound towards 86.4900


http://www3.0zz0.com/2012/07/24/09/763815696.gif

Oil fell yesterday, very much in price, but today it continues to trade virtually without any changes noticeable strong level of support 87.78, from this level will probably think the move to the north.

Oil is bearish at this moment. I can see it has chances to break its support at 87.65. If this pair can make it, than it will reach 87.00 and 86.70 for sure. But if its fail, then Oil may return to 89.05 or even higher than that today

Try to the trading price of oil positively since the morning and trying to stabilize above the MA 50, and this reinforces our positive of the morning, which remained in place, provided that stability above the level of 87.25
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Expected trading range for today is between: Support Resistance 86.00 91.50
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General tendency is expected for today: rising

Oil has just broken through the lower boundary of converging triangle, and continues to fall, this breakthrough opened the way to the level of support around 86.30, to this level is almost no technical obstacles.

Now the price dropped a little and keep the level of 87.40 ... quite difficult to tell where to go next, I think have to wait for the breakdown of narrowing of the triangle, and some market recovery ... but still better to sit on the fence ... I think the situation is quite uncertain and may go either way ...

long positions at 88.7300 with 89.800and 91.2700 as next targets

the breakout of will call for a rebound towards 86.0300

http://www12.0zz0.com/2012/07/25/07/923617221.gif