Crude Oil | Weekly Analysis | 31 January to 4 february 2011

Crude Oil | Weekly Analysis | 31 January to 4 february 2011

Crude oil fell to a low as 85.11 last week but staged a strong rebound from there.

The strong move up through the 87.79 minor support could suggest that fall from 92.37 might be over. Initial bias is back to a bullish trend this week for a possible trend up towards the 92.58 resistance level. A move up from there could test the key psychological level found at 100 next.

Looking down, we see support at 85.11. A move below that could test the 80.06 support instead.

January 31, 2010 - by David Frank, Financial Analyst, Ava Fx

Crude Oil | Morning Analysis | 19 January 2011

Crude Oil | Morning Analysis | 19 January 2011

Crude will continue a decline in a series of upcoming waves and over the next few trading sessions.

The sharp correction we saw as of late may be over, but with crude holding its recent low, a pop above 90.84 cannot be ruled out.

However, as the pattern now suggests, crude oil is bearish against 92.58 line.

January 19, 2010 - by

David Frank, Financial Analyst, Ava Fx