Melbourne Qindex 23:28 GMT March 5, 2011
Crude Oil : Heading Towards 104.36 : Reply
Entry: Target: Stop:
Crude Oil : Heading Towards 104.36
The monthly cycle pivot centers are positioning at 97.15 – 99.48 – 101.38. The monthly cycle frequency chart indicates that the bias is on the upside when it is above 99.56. The odds are in favor of maintaining a long position when the market is trading above the monthly cycle pivot center at 101.38. The monthly cycle congested area suggests that the market has a tendency to trade within 97.15 and 105.39. The distribution profile of the monthly cycle probability chart indicates that the market is pulling towards 104.36. It is likely that the market will tackle the upper barrier at 105.20 // 107.43 later in the month.
Crude Oil : Monthly Cycle Charts