| Log In | Register Now
FXstreet.com (Barcelona) - In the March 2nd email on crude oil, affirmed the long position (bought in mid Feb at $40.18) and the market has indeed continued higher, grinding steadily upward within the bullish channel that has contained the market since Feb (see daily chart below). Currently, the market is trading just below resistance at the ceiling of the channel (currently at $55.50/00) as well as longer term resistance at the previously broken bullish trendline from Aug 2003 (see longer term below), and is nearing overbought after the last 6 weeks of steady gains. However, there are still no signs "pattern-wise" of even a short term top while seasonal charts point sharply higher into mid May (see seasonal chart/2nd chart below), and suggests that any pullback is likely to be short-lived. So for now, would stay long and use a close below the base of the bullish channel since Feb as a sign to stop (currently at $47.25/75). Support before there is seen at $51.75/00.
Who Is Paul McCartney Trends on Twitter; Users Wonder Why
Dad Shoots Laptop Video Goes Viral on YouTube After Daughter’s Facebook Rant [VIDEO]
Free Edition
TAKE A TOURWe value your privacy. Your email address will not be shared.
