Crude oil and copper may likewise find support in a firmer US data set,Oct 17 -2012

Crude Oil (Nov 12) intraday: further advance.

Pivot: 91.40 Our Preference: LONG positions above 91.4 with 92.9 & 93.7 as next targets. Alternative scenario: The downside penetration of 91.4 will call for 90.8 & 89.8. Comment: the upward breakout of the descending channel is a bullish signal.

Crude oil and copper may likewise find support in a firmer US data set. While correlation studies suggest the relationship between the typically cycle-sensitive commodities and the S&P 500 – a benchmark gauge for market sentiment – has significantly weakened recently, de-facto upward pressure may emerge nonetheless if an encouraging data set weighs on haven demand for the US Dollar, mirroring a dynamic seen in overnight trade. The greenback fell in Asia as risk appetite firmed.




Disclaimer The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities. Visit Us www.deryworldscorp.web.id