Crude Oil (Jul 11) intraday: turning up.
26-May-11
07:45
Pivot: 99.50
Our Preference: LONG positions above 99.5 with 103.5 & 105 as next targets.
Alternative scenario: The downside breakout of 99.5 will open the way to 97.85 & 95.8.
Comment: the upward breakout of 101 is a positive signal that has opened a path to 103.5.
Trend: ST Range; MT Range
Key levels Comment
106.4** Intraday resistance
105*** Fib retracement (50%)
103.5** Fib projection
101.63 Last
99.5** Intraday pivot point
97.85** Intraday support
95.8** Intraday support
Ticker: CL1
