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Thursday, May 26, 2011

Oil, Light Sweet Crude, Brent predictions may 26 2011 graphs and indicators Technical analysis

Oil, Light Sweet Crude, Brent predictions may 26 2011 graphs and indicators Technical analysis :


Light Sweet Crude

The CL climbed again during Wednesday’s session, but only to the top of the recent consolidation range. Because of this the market looks like it wants to go sideways between $97.50 and $102.50 for the time being. The bias is to the upside still, as that is the direction of the overall trend.

Brent

Unlike the CL, Brent managed to break out of the recent consolidation, and looks very bullish at this point. $112.50 has given way, and is confirmed as being a supportive area. The market looks set to test $120 before the move is done and over.Originally Posted meta4forexbroker.com..

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