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Technical oil
Written by article default Monday, 26 December 2011 07:59
Oil Report
Midday Report: Crude Oil Futures For February Settlement
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Oil continues to fluctuate narrowly, while trading volume is expected to decline significantly. Accordingly, our morning expectations remain valid.
The trading range for the day may be among the major support at 95.00 and the major resistance at 101.00.
The short-term trend is to the downside with steady daily closing below 105.00, targeting 65.00.
| Support | 99.60 | 99.00 | 98.30 | 97.60 | 96.80 |
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| Resistance | 100.00 | 101.00 | 101.40 | 102.40 | 103.00 |
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| Recommendation | Our morning expectations remain valid. | ||||
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