Forex Gold Market Watch

Tuesday, February 22, 2011

Energy market commentary from Jim Wyckoff

ENeRGEIAS: March crude oil closed up $ 1.37 to $ 86.36 in
barrel today. Prices closed near session high today
for short coverage and some renewed tensions in the Middle East.
Still, some short-term chart has been losses in
crude oil this week. The next near-term upside price
BREAKOUT target bulls generates a close
This solid technical resistance at $ 88.00 a barrel. The
next near-term downside price breakout goal
carry crude oil is to produce a close below solid
technical support in this week's low of $ 83.85. First
resistance is visible in the $ 87.00, and then in $ 87.50. First
support is seen at $ 86.00, and then to $ 85.50. The Wyckoff
Market rating: 5.5.

March oil heating, closed 413 points in $ 2.7335
today. Prices closed nearer the session low today about
get the profit. Bulls still have overall near-term
technical advantage. However, the technical fault
recently, crude oil futures prices are bearish the foreboding
for heating oil. Bulls Next upside breakout price
The aim is closing values above solid technical
resistance to a high of $ 2.8041 Convention February.
Bears next downside price breakout objective is
producing a close below the solid technical support
week low of $ 2.6680. Initial resistance is at $ 7,500.
and then in today's high of $ 2.14,576. This is the first support
seen in today's low of $ 2.7252, and then in $ 2.7.
Wyckoff's market rating: 7.0.

March unleaded petrol, closed 159 points
$ 2.5225. Prices closed near session low today about
profits but did visits high fresh contract early
today. Bulls are still solid overall near-term
technical advantage. However, the technical fault
the price of crude oil recently do not bode well for the
bull market for gasoline. The next upside breakout price
aim for the bulls are closing prices over solid
technical resistance at $ 2.6000. Next downside bear»
price breakout aim is closing down from solid values
support in last week's low of $ 2.4238. First resistance
dealt with in the present contract high $ 2.5873 and subsequently
$ 2.5750. First support is at $ 2.5000, and then in
$ 2.4850. Wyckoff's market rating: 7,5.

March gas closed down 5.5 cents to $ 3,023 today.
Values close to session closed low today and hit a
fresh contract low. Bears have solid overall near-
term general technical advantage. The next upside price
BREAKOUT aim for bulls are above closing prices
solid technical resistance at $ 4.10. The next downside
price breakout goal bears are closing prices
bottom of solid technical support at $ 3.75. First resistance
seen in today's high of $ 2,405 and then to $ 4.00.
First support is considered during today's low of $ 3825 Convention
and then to $ 3,80. Wyckoff's market rating: 1.5.


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