{"id":16387,"date":"2010-12-06T09:03:53","date_gmt":"2010-12-06T14:03:53","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=16387"},"modified":"2010-12-06T09:03:53","modified_gmt":"2010-12-06T14:03:53","slug":"crude-oil-approaching-89-70-level","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/12\/06\/crude-oil-approaching-89-70-level\/","title":{"rendered":"Crude Oil Approaching $89.70 Level"},"content":{"rendered":"<p><strong>By Anton Eljwizat<\/strong> &#8211; <a href=\"http:\/\/www.forexyard.com\/en\/trading\/crudeoil\">Crude oil <\/a>prices  rose above $89 a barrel today, despite an unexpected rise in US  unemployment. Oil has made a significant upward correction, which can be  directly correlated with the bullish trend of the EUR\/USD cross. This  recent activity has raised the stakes for traders. However, I will  illustrate below that the oil may very well be heading for a reversal.  From here on, the forex and commodity markets will see very high  volatility indeed.<\/p>\n<p>\u2022\tBelow is the daily chart for <a href=\"http:\/\/www.forexyard.com\/en\/trading\/crudeoil\">crude oil <\/a>by ForexYard.<\/p>\n<p>\u2022\tThe technical indicators used are the Slow Stochastic, Relative Strength Index (RSI) and Williams Percent Range.<\/p>\n<p>\u2022\tPoint 1: There is a \u201cdoji\u201d candlestick that has formed on the chart, indicating that a reversal should take place.<\/p>\n<p>\u2022\tPoint 2: The Slow Stochastic indicates an impending bearish cross,  signaling that the next move may be in a downward direction.<\/p>\n<p>\u2022\tPoint 3: The RSI signals that the price of this pair currently  floats in the over-bought territory, indicating downward pressure.<\/p>\n<p>\u2022\tPoint 4: The William\u2019s Percent Range also supports the downward direction.<\/p>\n<p>Crude Oil Daily Chart<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/12\/crude-oil-6-12-2010.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/12\/crude-oil-6-12-2010.JPG\" alt=\"\" width=\"590\" height=\"681\" \/><\/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; Crude oil prices rose above $89 a barrel today, despite an unexpected rise in US unemployment. Oil has made a significant upward correction, which can be directly correlated with the bullish trend of the EUR\/USD cross. This recent activity has raised the stakes for traders. However, I will illustrate below that &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/12\/06\/crude-oil-approaching-89-70-level\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Crude Oil Approaching $89.70 Level&#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-16387","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/16387","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=16387"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/16387\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=16387"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=16387"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=16387"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}