{"id":21391,"date":"2011-04-08T02:27:11","date_gmt":"2011-04-08T06:27:11","guid":{"rendered":"http:\/\/www.forexyard.com\/blog\/en\/?p=13833"},"modified":"2011-04-08T02:27:11","modified_gmt":"2011-04-08T06:27:11","slug":"oil-prices-climb-above-111-a-barrel-2","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/04\/08\/oil-prices-climb-above-111-a-barrel-2\/","title":{"rendered":"Oil Prices Climb above $111 a Barrel"},"content":{"rendered":"<p><img decoding=\"async\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/profile-pics\/12.jpg\" width=\"120\"  alt=\"printprofile\" \/><\/p>\n<p>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<p><span id=\"more-13833\"><\/span>\u2022\tBelow is the daily chart for crude oil by ForexYard.<\/p>\n<p>\u2022\tThe technical indicators used are the Slow Stochastic, RSI and Williams Percent Range.<\/p>\n<p>\u2022\tPoint 1: There is a \u201cdoji\u201d candlestick formed in the chart, indicating that a reversal should take place.<\/p>\n<p>\u2022\tPoint 2: The Slow Stochastic indicates a 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, suggesting downward pressure.<\/p>\n<p>\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<p>Crude Oil Daily Chart<br \/>\n<img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2011\/04\/Crude-oil-8-4-2011.JPG\" alt=\"Crude oil 8-4-2011\" width=\"569\" height=\"684\" class=\"alignnone size-full wp-image-13834\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p> 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 thi&#8230;<\/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-21391","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/21391","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=21391"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/21391\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=21391"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=21391"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=21391"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}