{"id":8260,"date":"2010-04-06T08:21:34","date_gmt":"2010-04-06T12:21:34","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8260"},"modified":"2010-04-06T08:21:34","modified_gmt":"2010-04-06T12:21:34","slug":"crude-oil-prices-jump-on-positive-u-s-data","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/04\/06\/crude-oil-prices-jump-on-positive-u-s-data\/","title":{"rendered":"Crude Oil Prices Jump on Positive U.S Data"},"content":{"rendered":"<p><strong>By Anton Eljwizat<\/strong> &#8211; Crude oil prices soared today to the highest level since October 2008  as belief in the U.S. recovery from the global recession gained  strength.<\/p>\n<p>Oil traders were reacting to a flurry of  encouraging news during the last few days, including Friday\u2019s Labor  Department data showing that U.S. payrolls had risen by 162,000 in March  and Thursday\u2019s reports from automobile manufacturers indicating that  sales had accelerated in March by more than 24% from the same month a  year earlier. However, as I will demonstrate below, the price of oil may  very well be heading for a reversal. Forex traders can take advantage  of this impending movement by having their Entry Orders in place to  capture this reversal.<\/p>\n<p>\u2022\tPoint 1: 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\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 Williams Percent Range has peaked near at the 0  marker, which means that there may actually be a strong level of  downward pressure.<\/p>\n<p>Crude Oil Daily Chart<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/04\/crude-oil-6-4-2010.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/04\/crude-oil-6-4-2010.JPG\" alt=\"\" width=\"444\" height=\"584\" \/><\/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; Crude oil prices soared today to the highest level since October 2008 as belief in the U.S. recovery from the global recession gained strength. Oil traders were reacting to a flurry of encouraging news during the last few days, including Friday\u2019s Labor Department data showing that U.S. payrolls had risen by &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/04\/06\/crude-oil-prices-jump-on-positive-u-s-data\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Crude Oil Prices Jump on Positive U.S Data&#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-8260","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8260","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=8260"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8260\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=8260"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=8260"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=8260"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}