Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

Crude Technicals for the Week

32 sec read


 

Crude : $104.45/Barell
 
News: Oil jumps above $104 a barrel on US bailout plan
 
Oil prices shot up more than $6 a barrel Friday, breaking back into $100 territory as a sweeping government plan to rescue the imperiled U.S. financial system emboldened investors to re-enter the markets.Crude has climbed over $13 in the past three days as US the government carries out a historic intervention into the financial system.
 
Technicals
 
Crude ultimately retraced from $90 as expected to bounce anyhwere 
between the support levels $97 and $86. for the week and And Now crude
is trading near the 20 day EMA(104.95)  resistance.
 
And the RSI is moving towards the 50 levels with stocastic facing upwards, Which is a bullish sign that 20 day EMA resistance may got broken easily. And crude may possibly
test 200 day MA $111.82 more positively by this week.
 
Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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