{"id":5356,"date":"2009-12-17T09:00:10","date_gmt":"2009-12-17T14:00:10","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=5356"},"modified":"2009-12-17T09:00:10","modified_gmt":"2009-12-17T14:00:10","slug":"oil-rises-above-74","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2009\/12\/17\/oil-rises-above-74\/","title":{"rendered":"Oil Rises Above $74"},"content":{"rendered":"<p><strong>By Anton Eljwizat<\/strong> &#8211; Following a report from the U.S. Department of Energy yesterday, showing a decline in crude oil supplies, prices shot up and are now being traded at over $74.00 a barrel. However, I will illustrate below that the 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>\u2022\tThe technical indicators that are used are the Relative Strength Index (RSI), Slow Stochastic and MACD.<\/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 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 cross currently floats in the overbought territory, signaling downward pressure.<\/p>\n<p>\u2022 Point 4: The MACD indicates an impending bullish cross, which may signal a downward movement is going to occur in the near future.<\/p>\n<p>Crude Oil 4-Hour Chart<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2009\/12\/crude-oil-17-12.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2009\/12\/crude-oil-17-12.JPG\" alt=\"\" width=\"416\" height=\"517\" \/><\/a><\/p>\n<p><em><strong>Forex Market Analysis<\/strong><\/em> provided by\u00a0<a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\"><strong>Forex Yard.<\/strong><\/a><\/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; Following a report from the U.S. Department of Energy yesterday, showing a decline in crude oil supplies, prices shot up and are now being traded at over $74.00 a barrel. However, I will illustrate below that the oil may very well be heading for a reversal. Forex traders can take advantage &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2009\/12\/17\/oil-rises-above-74\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Oil Rises Above $74&#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-5356","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5356","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=5356"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/5356\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=5356"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=5356"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=5356"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}