{"id":22765,"date":"2009-12-17T08:28:10","date_gmt":"2009-12-17T12:28:10","guid":{"rendered":"http:\/\/www.forexyard.com\/blog\/en\/?p=6988"},"modified":"2009-12-17T08:28:10","modified_gmt":"2009-12-17T12:28:10","slug":"spot-crude-oil-rises-above-74","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/12\/17\/spot-crude-oil-rises-above-74\/","title":{"rendered":"Spot Crude Oil Rises Above $74"},"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>Following a report from the U.S. Department of Energy yesterday, showing a decline in crude oil supplies, oil prices shot up and are now being traded at over $74.00 a barrel. However, I will illustrate below that crude oil may very well be heading for a reversal. Forex traders can take advantage of this imminent downward movement by entering short positions at an excellent entry price.<\/p>\n<p><span id=\"more-6988\"><\/span>\u2022 The technical indicators that are used are the Relative Strength Index (RSI), Slow Stochastic and MACD.<\/p>\n<p>\u2022 Point 1: There is a \u201cdoji\u201d candlestick that has formed on the chart, indicating that a reversal may take place.<\/p>\n<p>\u2022 Point 2: The Slow Stochastic indicates a bearish cross, signaling that the next move may be in a downward direction.<\/p>\n<p>\u2022 Point 3: The Relative Strength Index (RSI) indicates that the price of this commodity currently floats in the over-bought territory, signaling downward pressure.<\/p>\n<p>\u2022 Point 4: The MACD indicates an impending bearish cross, which may signal a downward movement is going to occur in the near future.<\/p>\n<p><strong>Crude Oil 4-Hour Chart<\/strong><br \/>\n<img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-6989\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2009\/12\/crude-oil-17-12.JPG\" alt=\"crude oil 17-12\" width=\"416\" height=\"517\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p> Following a report from the U.S. Department of Energy yesterday, showing a decline in crude oil supplies, oil prices shot up and are now being traded at over $74.00 a barrel. However, I will illustrate below that crude oil may very well be heading for&#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-22765","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/22765","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=22765"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/22765\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=22765"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=22765"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=22765"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}