Crude Oil - Weekly Technical Outlook – July 16, 2010
FMX | Connect – www.fmxconnect.com- (Reported 7/16/10)
Chart 1: Front Month Crude (short-term analysis):
Weekly Outlook:
Traders will be monitoring $79.36 resistance and $74.25 support. If price manages to close above $79.36 on heavy volume, expect to see new buying. A close below $71.09 puts the bears back in control.
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| Technical Statistics Crude Oil August 2010 (NYMEX) | | | | | |
| | | | | |
| | | | | |
| Date | Open | High | Low | Last | Change |
| 7/16/2010 | 76.82 | 77.15 | 75.25 | 76.01s | -0.61 |
| | | | | |
| Period | Moving Average | Price Change | Percent Change | Average Volume | |
| 5-Day | 76.35 | -0.08 | -0.11% | 321,839 | |
| 20-Day | 76.04 | -2.03 | -2.60% | 303,487 | |
| 50-Day | 76.04 | -8.55 | -10.11% | 197,763 | |
| 100-Day | 80.45 | -4.52 | -5.61% | 114,736 | |
| 200-Day | 80.44 | 4.72 | 6.62% | 58,923 | |
| Year to Date | 80.32 | -6.52 | -7.90% | 86,336 | |
| |
| Period | Raw Stochastic | Stochastic %K | Stochastic %D | Average True Range | |
| 9-Day | 69.69% | 71.76% | 64.21% | 2.29 | |
| 14-Day | 59.35% | 60.89% | 55.42% | 2.34 | |
| 20-Day | 55.59% | 57.71% | 54.10% | 2.36 | |
| |
| Period | Relative Strength | Percent R | Historic Volatility | MACD Oscillator | |
| 9-Day | 50.95%% | 30.31%% | 23.73%% | 1.07% | |
| 14-Day | 49.74%% | 40.65%% | 29.03%% | 1.25% | |
| 20-Day | 48.60%% | 44.41%% | 27.90%% | 0.52% | |
| 50-Day | 47.69%% | 54.42%% | 32.47%% | 0.51% | |
| 100-Day | 48.70%% | 67.44%% | 28.01%% | -3.90% | |
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Chart 2: Front Month Crude (long-term analysis):
Long-Term Outlook:
Price stabilization above the 200-day will be critical if the market is to go higher.
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