Crude oil edged further higher to 82.97 last week but retreat sharply since then. A temporary top is at least formed and initial bias is neutral this week. We’d continue to seem more retreat below 82.97 first. Nevertheless, note that another rise remains in favor as long as 75.90 support holds. Above 82.97 will target 100% projection of 64.23 to 79.38 from 71.09 at 86.24 next. However, break of 75.9 will be the first signal that whole rebound from 64.23 is finished and will turn focus to 71.09 support for confirmation.The text is written by Oilngold.
"P&F
O I L (brent) Box Size $1X3 or(3.71%) CLOSE
Data 91.94 - 69.75
~ 4 Month ~ 114.67 Day
Database 2000 records 80.33 (Last Close)
2010-04-14 05~00
2010-08-06 21~00 (GMT+01:00) Paris
BJF Trading Group MDunleavy chart"
92.00|~1OO||__+___________________________________ ________|-0.07%|31.9%
91.00|~2OO||__x_+_________________________________ ________|1.02%|30.47%
90.00|~3OO||__x_o_+_______________________________ ________|2.11%|29.03%
89.00|~4OO||__x_o___+_____________________________ ________|3.2%|27.6%
88.00|~5OO||o_x_o_____+___________________________ ________|4.29%|26.16%
87.00|~6OO||o_x_o_______+_________________________ ________|5.37%|24.73%
86.00|~7OO||o_x_o_________+_______________________ ________|6.46%|23.3%
85.00|~8OO||o___o___________+_____________________ ________|7.55%|21.86%
84.00|~9OO||____o_x___________+___________________ ________|8.64%|20.43%
83.00|~1OOO|____o_x_o___________+_________________ ____+___|9.72%|19%
82.00|~11OO|____o_x_o_____________+_______________ ____x_+_|10.81%|17.56%
81.00|~12OO|____o_x_o_______________+_____________ ____x_o_|11.9%|16.13%
80.00|~13OO|____o___o_________________x___________ ____x_o_|12.99%|14.7%
79.00|~14OO|________o_________________x_o_x_______ ____x_o_|14.07%|13.26%
78.00|~15OO|________o_________________x_o_x_o_____ x___x___|15.16%|11.83%
77.00|~16OO|________o_____________x___x_o_x_o_x___ x_o_x___|16.25%|10.39%
76.00|~17OO|________o_____x___x___x_o_x_o___o_x_o_ x_o_x_+_|17.34%|8.96%
75.00|~18OO|________o_____x_o_x_o_x_o_x_____o_x_o_ x_o_+___|18.43%|7.53%
74.00|~19OO|________o_x___x_o_x_o_x_o_x_____o_x_o_ __+_____|19.51%|6.09%
73.00|~2OOO|________o_x_o_x_o___o_+_o_x_____o_x___ +_______|20.6%|4.66%
72.00|~21OO|________o_x_o_x_____+___o_______o_x_+_ ________|21.69%|3.23%
71.00|~22OO|________o___o_x___+_____________o_+___ ________|22.78%|1.79%
70.00|~23OO|____________o_x_+_______________+_____ ________|23.86%|0.36%
69.00|~24OO|____________o_+_______________________ ________|24.95%|-1.08%
||||||~25OO|____________+_________________________ ________|100%|-100%
Column||||||4_6_1_4_1_3_5_7_3_3_3_4_5_8_4_3_8_6_3_ 4_3_7_3_|
Count|||||||____1___3_____________________________ ________|
BJF Trading Group. Excel Chart. Full size.
