Crude Oil - Daily technical Forecast 10th June

By IBTimes Staff Reporter | June 09 2010 11:53 PM

Sponsorship Link

Crude Oil closed higher due to short covering on Wednesday and the high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible near-term. Closes above the reaction high crossing are needed to confirm that a short-term low has been posted. If it renews the decline off May's high, last July's low crossing is the next downside target.

More in Commodities

Transocean Has Bittersweet News For Carl Icahn: Shareholders Reject Carl Icahn's Big Dividend Proposal But Oust Chairman

Transocean Has Bittersweet News For Carl Icahn: Shareholders Reject Carl Icahn's Big Dividend Proposal But Oust Chairman

Strong Dollar Weighs on Brent Prices

Strong Dollar Weighs on Brent Prices

Forget The 'Cool Kids' Comments -- Abercrombie (ANF) Just Asserted Itself As A Workers' Rights Defender

Forget The 'Cool Kids' Comments -- Abercrombie (ANF) Just Asserted Itself As A Workers' Rights Defender

Oil prices starting the day in negative territory

Oil prices starting the day in negative territory

In Depth

Journeys In Jaffna, Sri Lanka, 4 Years After The Civil War’s Bloody Conclusion

Inside Northern Sri Lanka 4 Years After Civil War

Drones: Which Countries Have Them For Surveillance And Military Operations? (MAP)

Where In The World Are The Military Drones? [MAP]

Borrowing To Buy: How Much Do Americans Owe?

Borrowing To Buy: How Much Do Americans Owe?

The West Bank Wall: What Life Is Like For Palestinians And Israelis Divided By The Barrier

Life For Palestinians And Israelis Divided By West Bank Wall

web counter