{"id":20570,"date":"2011-04-08T07:49:24","date_gmt":"2011-04-08T11:49:24","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=20570"},"modified":"2011-04-08T07:49:24","modified_gmt":"2011-04-08T11:49:24","slug":"oil-prices-climb-above-111-a-barrel","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/04\/08\/oil-prices-climb-above-111-a-barrel\/","title":{"rendered":"Oil Prices Climb above $111 a Barrel"},"content":{"rendered":"

By Anton Eljwizat<\/strong><\/p>\n

Crude oil prices rose significantly yesterday and peaked at $111.36 per barrel. However, the daily chart is suggesting that a recent upwards trend is loosing steam and a bearish correction is impending. Forex traders involved with commodities like this can take advantage of this knowledge by going short on crude oil now, and at a great entry price!<\/p>\n

\u2022\tBelow is the daily chart for crude oil by ForexYard.<\/p>\n

\u2022\tThe technical indicators used are the Slow Stochastic, RSI and Williams Percent Range.<\/p>\n

\u2022\tPoint 1: There is a \u201cdoji\u201d candlestick formed in the chart, indicating that a reversal should take place.<\/p>\n

\u2022\tPoint 2: The Slow Stochastic indicates a bearish cross, signaling that the next move may be in a downward direction.<\/p>\n

\u2022\tPoint 3: The RSI signals that the price of this pair currently floats in the over-bought territory, suggesting downward pressure.<\/p>\n

\u2022\tPoint 4: The Williams Percent Ranges is showing that this pair is heavily over-bought and may be experiencing strong downward pressure.<\/p>\n

Crude Oil Daily Chart
\n\"Crude<\/p>\n

Forex Market Analysis provided by ForexYard. <\/a><\/strong><\/em>
\n<\/a><\/strong><\/em><\/p>\n

\u00a9 2006 by FxYard Ltd<\/p>\n

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":"

Crude oil prices rose significantly yesterday and peaked at $111.36 per barrel. However, the daily chart is suggesting that a recent upwards trend is loosing steam and a bearish correction is impending. Forex traders involved with commodities…<\/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-20570","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/20570","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=20570"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/20570\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=20570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=20570"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=20570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}