{"id":16219,"date":"2010-12-03T09:42:27","date_gmt":"2010-12-03T14:42:27","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=16219"},"modified":"2010-12-03T09:42:27","modified_gmt":"2010-12-03T14:42:27","slug":"crude-oil-trading-opportunity","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/12\/03\/crude-oil-trading-opportunity\/","title":{"rendered":"Crude Oil Trading Opportunity"},"content":{"rendered":"<p><strong>By Yan Petters<\/strong> &#8211; <a href=\"http:\/\/www.forexyard.com\/en\/trading\/crudeoil\">Crude oil<\/a> is  set close a bullish trading week. Crude began this week\u2019s session at  about $83.00 a barrel and is currently trading near $88.00 a barrel.  However, both the 4-hour and the 8-hour charts are providing solid i<a href=\"http:\/\/www.forexyard.com\/en\/choose-indicator\">ndications<\/a> that a bearish correction is impending. A bearish cross has been completed on the Slow <a href=\"http:\/\/www.forexyard.com\/en\/stochastic\">Stochastic<\/a> of both charts \u2013 above the 80 line \u2013 which usually detects overbought conditions in the market. In addition, the <a href=\"http:\/\/www.forexyard.com\/en\/relative-strength-index-rsi\">RSI<\/a> on both charts is pointing down. If the RSI will drop below the 70-line, it would further support the bearish prediction.<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/12\/crude-oil-4-hour1.bmp\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/12\/crude-oil-4-hour1.bmp\" alt=\"\" width=\"593\" height=\"433\" \/><\/a><\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/12\/crude-oil-8-hour.bmp\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/12\/crude-oil-8-hour.bmp\" alt=\"\" width=\"612\" height=\"455\" \/><\/a><\/p>\n<ul><a href=\"http:\/\/www.forexyard.com\/blog\/en\/?s=farming\">Non Farm Payrolls<\/a> \u2013 Beware<\/ul>\n<p>Despite the technical predictions, traders should also take into  account that today at 13:30 GMT the U.S. Non-Farm Payrolls release is  scheduled. This is one of the most significant <a href=\"http:\/\/www.forexyard.com\/en\/market-analysis\/\">news events<\/a> of the month, and usually causes unusual volatility. The repercussions  are extremely difficult to predict, and the risk of keeping an open  position at this time is high. Analysts are forecasting that payrolls  have increased by 143,000 in November. Conventional wisdom suggests that  if the actual figure will be higher, crude oil prices will rise. If the  end result will be negative, crude might face a sharp bearish  correction.<\/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 Yan Petters &#8211; Crude oil is set close a bullish trading week. Crude began this week\u2019s session at about $83.00 a barrel and is currently trading near $88.00 a barrel. However, both the 4-hour and the 8-hour charts are providing solid indications that a bearish correction is impending. A bearish cross has been completed &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/12\/03\/crude-oil-trading-opportunity\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Crude Oil Trading Opportunity&#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-16219","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/16219","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=16219"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/16219\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=16219"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=16219"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=16219"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}