Crude Oil - Weekly Technical Outlook – June 14 , 2010
FMX | Connect – www.fmxconnect.com- (Reported 6/14/10)
Chart 1: Front Month Crude (short-term analysis):
Weekly Outlook:
Traders will be monitoring $75.70 resistance and $70.75 support. If price action is positive, look for a close above the 200-day moving average. If negative, look for a close below $68.00 support.
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Technical Statistics:
| CLN0 - Crude Oil July 2010 (NYMEX) | | | | | |
| | | | | |
| Date | Open | High | Low | Last | Change |
| 6/1/2010 | 73.97 | 75.14 | 73.85 | 75.1 | unch |
| | | | | |
| Period | Moving Average | Price Change | Percent Change | Average Volume | |
| 5-Day | 74.05 | 6.35 | 9.24% | 333337 | |
| 20-Day | 75.27 | -10.66 | -12.43% | 322794 | |
| 50-Day | 81.5 | -7.28 | -8.84% | 191410 | |
| 100-Day | 80.74 | -10.1 | -11.85% | 102454 | |
| 200-Day | 79.81 | -1.18 | -1.55% | 52822 | |
| Year to Date | 80.9 | -7 | -8.53% | 98711 | |
| |
| Period | Raw Stochastic | Stochastic %K | Stochastic %D | Average True Range | |
| 9-Day | 92.77% | 75.59% | 55.01% | 2.54 | |
| 14-Day | 59.15% | 47.58% | 34.96% | 2.54 | |
| 20-Day | 42.15% | 31.91% | 23.50% | 2.47 | |
| |
| Period | Relative Strength | Percent R | Historic Volatility | MACD Oscillator | |
| 9-Day | 50.20% | 7.23% | 39.70% | 2.5 | |
| 14-Day | 44.70% | 40.85% | 37.03% | 1.66 | |
| 20-Day | 43.31% | 57.85% | 36.12% | -0.55 | |
| 50-Day | 45.63% | 64.85% | 29.32% | -6.77 | |
| 100-Day | 48.14% | 64.85% | 28.32% | -6.02 | |
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Chart 2: Front Month Crude (long-term analysis):
Long-Term Outlook:
Crude managed to close above the bottom line of the secondary channel (dotted pink line). If crude manages to retake the 200-day MA’s, expect to see more upside momentum.
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