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).

Trading setups. The analysis posted here will provide trading scenarios based on different technical tools.

Romanian Market. This is a section dedicated to Romanian stocks and indices.

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Tuesday, December 20, 2011

Crude Oil (WTI) Technical Analysis 2011.12.20

Crude Oil is respecting the rising scenario posted in the previous analysis ( http://markettechnicalview.blogspot.com/2011/12/crude-oil-wti-technical-analysis_19.html ) and the break of the 94.80 resistance level came as a confirmation.

We see higher highs and higher lows from 16th of December, reflecting the bullish strength (at least for the moment).

The future price action can lead to a retest of the support area (94.30-94.80) before the up move should resume. The H1 chart shows the most probable evolution for the next few days.  


Posted by Adrian Filip at 11:52 AM
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