Crude Oil Prices July 27, 2010, Technical Analysis

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Crude markets went back and forth during the Thursday session as the $90 level was bounced off of. The $90 handle so far has held as resistance, but there are two hammers preceding the session on Thursday that suggests to us that perhaps the bulls may have a bit of momentum on their side still.

We are buying on a break of the Thursday highs, and selling on a break below the $84 level. In the meantime, we suspect there will be a lot of choppiness in this general area, as it is an area that seems quite a bit of clustering over the last several sessions.

 

Crude Oil Prices July 27, 2010, Technical Analysis

Crude Oil Prices July 27, 2010, Technical Analysis

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About: FX Empire Analyst - Christopher Lewis

Christopher is a part of the FXEmpire.com analysis team. He writes Forex and Commodities technical analyses on daily and weekly basis. Christopher writes his analyses in a professional and yet simple to understand manner. His analyses are available in both text and videos.

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