{"id":20634,"date":"2011-04-12T22:39:11","date_gmt":"2011-04-13T02:39:11","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=20634"},"modified":"2011-04-12T22:39:11","modified_gmt":"2011-04-13T02:39:11","slug":"crude-oil-sets-a-2-year-high","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/04\/12\/crude-oil-sets-a-2-year-high\/","title":{"rendered":"Crude Oil Sets A 2-Year High!"},"content":{"rendered":"<p><a href=\"http:\/\/www.laidtrades.com\/wp-content\/uploads\/2011\/04\/Crude-Oil-April-11-2011.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-8581 size-medium aligncenter\" title=\"Crude Oil - April 11, 2011\" src=\"http:\/\/www.laidtrades.com\/wp-content\/uploads\/2011\/04\/Crude-Oil-April-11-2011-300x108.jpg\" alt=\"\" width=\"300\" height=\"108\" \/><\/a><\/p>\n<p style=\"text-align: justify;\">Last April 1, I mentioned that WTI <a title=\"Crude Oil\" href=\"http:\/\/www.laidtrades.com\/category\/commodities\/crude-oil\/\" target=\"_blank\">Crude Oil<\/a>, as for my technical analysis, could be forming a&nbsp;n <a title=\"Ascending Triangle Pattern\" href=\"http:\/\/www.laidtrades.com\/chart-patterns\/ascending-triangle\/\" target=\"_blank\">ascending triangle pattern<\/a> (kindly check <a href=\"http:\/\/www.laidtrades.com\/2011\/04\/01\/crude-oil-looking-to-set-a-2-year-high\/\" target=\"_blank\">here<\/a>) and upon break out, it could reach an upside target of 115.00 <a title=\"US Dollar\" href=\"http:\/\/www.laidtrades.com\/category\/forex\/us-dollar-index\/\" target=\"_blank\">USD<\/a>.  Shortly after I posted it, the triangle&rsquo;s resistance was cleared out as  the buying pressure strengthened. From the $106.94 breakout point,  crude oil closed at a 2-year high of $113.07 last Friday which means  people will now be paying additional 5% for their&nbsp;automobile&rsquo;s&nbsp;gasoline.  I may be wrong but based on the bullish triangle pattern and the strong  price closing, it could still hit $115.00. I prefer not. On the  downside, in case the crude oil price drops, the current support is the  2-month <a title=\"Uptrend\" href=\"http:\/\/www.laidtrades.com\/chart-patterns\/uptrend\/\" target=\"_blank\">uptrend<\/a>. If that breaks, the next support could be the triangle&rsquo;s&nbsp;resistance.<\/p>\n<p>More on <a href=\"http:\/\/www.laidtrades.com\/\">LaidTrades.com<\/a> &#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Last April 1, I mentioned that WTI Crude Oil, as for my technical analysis, could be forming a&nbsp;n ascending triangle pattern (kindly check here) and upon break out, it could reach an upside target of 115.00 USD. Shortly after I posted it, the triangle&rsquo;s resistance was cleared out as the buying pressure strengthened. From the &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2011\/04\/12\/crude-oil-sets-a-2-year-high\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Crude Oil Sets A 2-Year High!&#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-20634","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/20634","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=20634"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/20634\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=20634"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=20634"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=20634"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}