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News Center [Daily Reports] - Technical Analysis For Energy Markets

Tuesday, January 06, 2009


Our target is still the 50 day MA at 51.45 and the upside direction prevails. Today we see trading is still above the 43.00 level and will continue inclining on the intraday and short term to reach the above mentioned target. On the other hand, we shouldn't foget that the medium term trend is still to the downside. The trading range for today is among the key support at 43.75 and the key resistance at 52.40 The general trend is to the downside as far as 92.30 remains intact with targets at 34.85 and 32.25
Support	47.90	47.45	46.00	45.50	45.20
Resistance	48.60	49.60	50.50	51.45	51.80
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Disclaimer:

The above may contain information for investors/traders and is not a recommendation to buy or sell currencies, gold, silver & energies, nor an offer to buy or sell currencies, gold, silver & energies. The information provided is obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. I am not liable for any losses or damages, monetary or otherwise that result. I recommend that anyone trading currencies, gold, silver & energies should do so with caution and consult with a broker before doing so. Prior performance may not be indicative of future performance. Currencies, gold, silver &energies presented should be considered speculative with a high degree of volatility and risk.