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Khamis, 16 Februari 2012

Analysis Crude Oil - 176Feb12

 Crude Oil (Mar 12) intraday: the bias remains bullish.
 ( 16/02/2012 20:28 )



Pivot: 100.80

Our Preference: LONG positions above 100.8 with 102.6 & 102.9 in sight.

Alternative scenario: The downside penetration of 100.8 will call for 99.9 & 99.3.

Comment: the immediate trend remains up and the momentum is strong.

Trend: ST Bullish; MT Ltd upside

Key levels Comment

104** Intraday resistance
102.9** Intraday resistance
102.6** Intraday resistance

101.38 Last

100.8** Intraday pivot point
99.9* Fib retracement (50%)
99.3** Fib retracement (61.8%)



TIPS

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Even with the same trading system 2 forex traders can get opposite results in the long run. The difference will be again in money management approach. To introduce you to money management, let's get one fact: losing 50% of total account requires making 100% return from the rest of money just to restore the original balance.

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