logo
  Join        Login             Stock Quote

A Review Of Oil And The Possible Breakout

 November 15, 2012 01:24 PM


Oil bounced yesterday after news of the Israel and Hamas conflict. This allowed oil to touch the highs of the range it has been in over several weeks.  Oil has gone no where lately as evident of the consolidation patter on the chart.  Oil has stayed between 85 and 87 during this time, but the range for is from 84.05 and 87.46.

Possible Break Out: Oil appears it is ready to test these highs again and possible break out.  For Oil to breakout it would need to get above 87.05, which is the more immediate term resistance level. A true breakout would occur at 87.46 and this would allow Oil to head north to about 91. The conflict in the middle east and dollar that is nearing resistance could be the bump oil needs to get over this resistance.

[Related -Are Markets High on Yield?]

Hourly Triangle:  A sloppy ascending triangle has formed on Oil as well which uses the resistance levels above to form the top of the triangle.

[Related -Quarterly GDP Reports: Read At Your Own Risk]


iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageGroupon Inc. (GRPN): B. Riley Lowballing with $9 Target?

Groupon Inc. (NASDAQ:GRPN) might be struggling today (what isn’t?), but don’t expect the stock to stay down read on...

article imageWells Fargo & Company (NYSE:WFC) Q2 Earnings Preview: July’s Perfect Track Record

Wells Fargo & Company (NYSE:WFC) is scheduled to announce its second quarter 2014 earnings on Friday, July read on...

article imageAmerican Apparel Inc. (APP) and International Stem Cell Corp (ISCO): Trading Under $1 with Seven Figure I

Admittedly, it was difficult to pick one of the 30 that stood out compared to the other 29. So, instead of read on...

article imageCanadian Solar Inc. (CSIQ): Going to $40 Says FBR capital

On an otherwise red day, Canadian Solar Inc. (NASDAQ:CSIQ) is bobbing higher, up nearly 1% as we type. The read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center

Related Articles:

The CFPB Is Still Out Of Control
More Articles on: Oils/Energy



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.