Thursday, January 24, 2013

Crude Oil Intraday! Heading toward wave V

Oil prices spiked up yesterday, closed to $97 per barrel before price turned sharply lower during the US trading hours. Looks like prices are capped now below 96.85 and ready for a deeper pull-back. We see market in minor fourth wave now from where extensions could follow to 94.80 later today. Any fast intra-day shorts should have stops above 96.15 critical region. Why? Because we know that wave four must not trade in to a territory of a wave one.

USDCHF Technical Analysis - Sell at 0.9955

USDCHF made a nice bull move from 0.9716 to 0.9990. Then USDCHF drops from over bought zone. USDCHF is trading below its 20 period MA on 4h ...