Saturday, 23 July 2011

West Texas Oil trading range $90-$110

West Texas Oil found support at the end of  June around $90.Weekly Pivot $98 supports Bull move to $101 this week with strong support at $88 (Summer low). Up move has been 18 trading days with a rise $12 to $100.   Looking for a move to $103 with a low due on Friday 19 August $90

Trade Price Stop Target Low/High S1/R1 S2/R2
Buy $96 $94 $108 $100 $101 $103
Sell $106 $108 $96$94 $96 $93

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