Market Technical View is a blog that mostly concerns the technical analysis of different financial instruments like indices, commodities, stocks, ETFs and currencies.

All the posts are structured in 3 main chapters that can be found in Content, in the upper right-hand corner of the blog.

Market perspective. The technical approach consists of chart patterns and important support/resistance zones. The purpose of this section is to give directions of the price on short and medium term (a few days up to a few months).

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Tuesday, March 27, 2012

Crude Oil (WTI) Technical Analysis. 2012.01.27

The daily chart of the Crude Oil (WTI) shows a bullish trend in the last 6 months that has good chances to resume if the $104.00 support will hold.

The stochastic oscillator signaled good buying opportunities when it crossed below the oversold border (at 30) while is evolved for longer periods in the overbought areas, typical for a bullish trend.

The month of March formed a bearish channel that is, the most probable, a corrective move for the up-trend. However, if the stochastic oscillator is to be considered, than the buyers should initiate their positions when the fast %D brakes below the 30 level.


Posted by Adrian Filip at 3:37 PM
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