Crude oil : focus on MD

Long term: towards UQ

On a quarterly basis, a bullish no-crossover is in progress with our moving averages and our stochastic.

On a monthly basis, our stochastic and MACD are not yet oversold.

Idea: oversold status next month (January) for our stochastic and MACD

Bet: very bullish with a bullish no-crossover for our monthly moving averages

R= UM (110.12), UQ (120.56);   S= MM (89.21)

Medium term: rise

On a weekly basis, a PEI is the status for our stochastic.

Idea: UW is our first target

Bet: UW could be a strong resistance.

R = UW (104.43);     S = MW (90.78)

Short term: higher?

On a daily basis; if MD proves to be a support, a PEI will be the status for our stochastic and MACD.

Idea: above 103.36 (current high) May 2011 top is our next objective (114).

Bet: focus on MD.

R = 103.36;    S= MD (98.56), LD = (93.92).

Conclusion: focus on MD.

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