Crude Oil is calm 27/11/2012
Economies.com
2012-11-27 05:53AM UTC
The narrow range continued controlling the intraday trading of the crude oil, to hover around 88.00, and we still seeing a contradiction signals between the technical indicators, between EMA50 negativity which forms a resistance barrier at 88.80, and Stochastic positivity.
Therefore, we prefer continuing in neutrality, until getting clearer signals for the next trend, note that the speculative traders can gain benefits from the current sideways trading range.
To view more technical factors that affect the oil price moves, please follow this link:
Deeper technical look at the Crude Oil price
Expected trading range for today is between: 85.00 support and 91.00 resistance.
Expected trend for this week: Neutral
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