Where is crude headed ?

azizkhan's picture

 #

 
 #

Crude oil closed higher on Friday as it extends this week's rally. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near term. The high range close sets the stage for a steady to higher opening on Monday.

If November extends this week's rally, September's high crossing at 73.58 is the next upside target. Closes below Monday's low crossing at 68.05 would temper the near term friendly outlook in the market.

First resistance is Thursday's high crossing at 72.55
Second resistance is September's high crossing at 73.58

First support is the 10 day moving average crossing at 69.95
Second support is Monday's low crossing at 68.05

 

Recent Comments and talks

What is AskDalal ?

AskDalal is a investment blogging portal dedicated to Indian investment community , where every blog answers a question.It may be stocks, bonds,commodity, real estate or anything else.Post your blog title  or a question, community will do research and answer the question to give you your own research report.It is 100%free , no registration is required to browse and ask questions.It's great for writers looking for article topic,and cool for investor looking for answers.

>>> faq

Top Contributors

UserPoints
suniljain10,440
admin2,990
rahul das2,460
anilmehta1,710
dipak1,540
rakeshseth1,500
himesh1,350
stockguru1,110
shah1,060
bharat_vora1,040

Become Askdalal Research Analyst

Are you an MBA (finance) students, economics students, or journalist with broad interest in stocks, investing and finance. Do you want to polish your skills before getting into job market ? Come join askdalal as Research Analyst.Email your resume to tripti.shah@askdalal.com.

If your resume is impressive you will get chance to show your talent,polish your skills and earn money along the way. At the convenience of sitting at your home computer. See rules for askdalal investment analyst.

Latest Dalal

  • adelinerudolphnlhse
  • Sankalp
  • gisele0214ldsnz
  • janettem6
  • belindala