Oil

[jeng]

Oil futures rose slightly in Asian trading Wednesday as U.S. policymakers gave traders hope the world�s largest economy is making progress toward averting the fiscal cliff.

On the New York Mercantile Exchange, light, sweet crude futures for February delivery added 0.02% to USD88.42 per barrel in Asian trading Wednesday. Crude traded as high as USD88.50 per barrel and as low as USD88.34.

[suhermanto]

the try is gaining ground for your own fifth consecutive day supported by risk aversion and falling crude oil costs. the barrel ( wti ) is trading below $90 at the cheapest level since february.

[dollar]

Time frame - H1

analysis with stoch. indicator- stoch indicator is sowing this pair will become over sold and the may be change their direction and Macd indicator we can see some falling in movementum.

analysis with price chart- in price chart we can see that 88.00 is offering a good resistance by the price and moving average also. from here price will move down side short this with take profit 85.60 and stop loss is 88.00

[Alex]

Oil a few hours ago has managed to overcome a strong mark (upper zone fractals) 87.60, now this level acted as a mirror level (resistance became support), most likely it will continue to form a new northern wave target 89.00.

[ahmed fakhry]

Oil: The January futures price of WTI rose to 87.68 dollars a barrel at the NYMEX today. Prices grew by 1%, after the House Speaker John Boehner proposed to raise income tax rates of households whose income is more than $ 1 million a year in exchange for control of expenses.

[fanikakkoo]

Oil

Initial support at 95.00 (Intraday Support) followed by 92.50 (Intraday Support). Initial resistance is now at 98.00 (Intraday resistance) followed by 100.00 (Intraday Resistance)

[Pioner3]

Oil was the formation of a converging triangle breakout is likely to happen is the northern boundary of the figure since the lower lows, higher and higher (bulls pull the price to the north), the breakout will mark 87.00 to 87.60 to buy.

[suzonbmw03]

Dear Friends,Today,Initial support at 100.00 (Intraday Support) followed by 98.00 (Intraday Support). Initial resistance is now at 103.00 (Intraday resistance) followed by 105.00 (Intraday Resistance). i hope it will increase and gonna reversal for 100, trhen 105 and it gonna touch 100 in coming days but after some correction, not like rocket .

[niknik]

“The trend has been down since September and it’s probably best to look lower since the November low as nothing more than consolidation before additional weakness.” IF crude can sustain a downside break then focus (probably later in the month) would shift to the 78.6% retracement of the rally from 7726 and channel support. Also keep an eye on former trendline resistance, which indicated support on 11/28.

Commodity Trading Strategy: 8550, the first target, was hit several days ago and the rest of the position was stopped out at Monday’s high. 8835/89 is estimated resistance to short into against 9031.

LEVELS: 8363 8454 8565 8765 8835 8889

[Vamos]

Yes indeed oil broke above 86.90 resistance, and opened with gepom higher level ... so the first goal, this price increase to around 87.70, what will happen is hard to say ... but you need to watch the behavior of a plot near the important levels. ... and will do it to feel ...