PUBLISHED BY INSTITUTIONAL ADVISORS
March 29th, 2009
Technical observations of RossClark@shaw.ca
Crude Oil - Testing Targeted Resistance
Crude Oil is now into the targeted resistance area at the 100-day moving average ($53.20) and is producing an overbought reading in the RSI(14). The two heavily traded EFTs, USO and HOU.TO, are producing overbought alerts on the daily charts. Look for oil to pullback into the mid $40’s before making another run toward the 150-day average later this spring.
BOB HOYE, INSTITUTIONAL ADVISORS
March 29th, 2009
CHARTWORKS WEBSITE:: www.institutionaladvisors.com
The opinions in this report are solely those of the author. The information herein was obtained from various sources; however we do not guarantee its accuracy or completeness. This research report is prepared for general circulation and is circulated for general information only. It does not have regard to the specific investment objectives, financial situation and the particular needs of any specific person who may receive this report. Investors should seek financial advice regarding the appropriateness of investing in any securities or investment strategies discussed or recommended in this report and should understand that statements regarding future prospects may not be realized. Investors should note that income from such securities, if any, may fluctuate and that each security’s price or value may rise or fall. Accordingly, investors may receive back less than originally invested. Past performance is not necessarily a guide to future performance. Neither the information nor any opinion expressed constitutes an offer to buy or sell any securities or options or futures contracts. Foreign currency rates of exchange may adversely affect the value, price or income of any security or related investment mentioned in this report. In addition, investors in securities such as ADRs, whose values are influenced by the currency of the underlying security, effectively assume currency risk. Moreover, from time to time, members of the Institutional Advisors team may be long or short positions discussed in our publications.
|Home :: Archives :: Contact||
June 3rd, 2020
© 2020 321energy.com