{"id":12382,"date":"2010-08-25T08:55:48","date_gmt":"2010-08-25T12:55:48","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=12382"},"modified":"2010-08-25T08:55:48","modified_gmt":"2010-08-25T12:55:48","slug":"oil-drops-below-72","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/08\/25\/oil-drops-below-72\/","title":{"rendered":"Oil Drops Below $72"},"content":{"rendered":"<p><strong>By Anton Eljwizat<\/strong> &#8211; The <a href=\"http:\/\/www.forexyard.com\/en\/trading\/crudeoil\">Oil<\/a> prices are once again dropping, and it is currently traded around $71.65  per barrel. However, there is much technical data that supports a  bullish move for today as described below. Forex traders involved with  commodities like this can take advantage of this knowledge by going long  on <a href=\"http:\/\/www.forexyard.com\/en\/trading\/crudeoil\">Crude Oil <\/a>now, and at a great entry price!<\/p>\n<p>\u2022\tBelow is the 8-hour chart for the <a href=\"http:\/\/www.forexyard.com\/en\/trading\/crudeoil\">crude oil<\/a>.<\/p>\n<p>\u2022\tThe technical indicators used are the <a href=\"http:\/\/www.forexyard.com\/en\/stochastic\">Slow Stochastic<\/a>, <a href=\"http:\/\/www.forexyard.com\/en\/relative-strength-index-rsi\">Relative Strength Index (RSI)<\/a> and MACD.<\/p>\n<p>\u2022\tPoint 1: The <a href=\"http:\/\/www.forexyard.com\/en\/relative-strength-index-rsi\">Relative Strength Index (RSI)<\/a> indicates that the price of this cross currently floats in the oversold territory, signaling upward pressure.<\/p>\n<p>\u2022\tPoint 2: The <a href=\"http:\/\/www.forexyard.com\/en\/stochastic\">Slow Stochastic <\/a>shows a fresh bullish cross which may indicate an impending bullish movement.<\/p>\n<p>\u2022\tPoint 3:  The MACD indicates an impending bullish cross, which may  signal a upward movement is going to occur in the near future.<\/p>\n<p>\u2022\tThe volatile downward movement which occurred prior to this upward  correction has generated these indicators, and there appears to be room  for this correction to continue.<\/p>\n<p>Crude Oil 8-Hour Chart<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/08\/crude-oil-25-8-2010.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/08\/crude-oil-25-8-2010.JPG\" alt=\"\" width=\"501\" height=\"589\" \/><\/a><\/p>\n<p><em><strong>Forex <\/strong><strong>Market Analysis provided by <a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">ForexYard.<\/a><\/strong><\/em><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and                                                   may not be suitable  for     all            investors.       There    is  a                 possibility           that             you   could       sustain a  loss      of  all     of       your                 investment and               therefore  you             should   not       invest        money   that     you              cannot    afford to            lose. You            should    be       aware  of        all       the     risks            associated     with       Foreign          Exchange         trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Anton Eljwizat &#8211; The Oil prices are once again dropping, and it is currently traded around $71.65 per barrel. However, there is much technical data that supports a bullish move for today as described below. Forex traders involved with commodities like this can take advantage of this knowledge by going long on Crude Oil &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/08\/25\/oil-drops-below-72\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Oil Drops Below $72&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-12382","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/12382","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=12382"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/12382\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=12382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=12382"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=12382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}