Forex Trading, Forex Tools, Currency Trading, Forex Tips, Forex Resources » Decrease http://www.forextradingexpress.com Forex Trading, Currency Trading, Forex Tools, Forex Trading Tips, Forex Trading Resources, Forex Trading Training, Forex Converter, Forex Calculator, Forex Charts, Forex Market, Forex Rates, Forex Trader Sat, 21 Jan 2012 04:21:33 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 Crude Oil Prices Set to Decrease http://www.forextradingexpress.com/forex-trading/crude-oil-prices-set-to-decrease/ http://www.forextradingexpress.com/forex-trading/crude-oil-prices-set-to-decrease/#comments Fri, 27 Nov 2009 14:31:33 +0000 admin http://www.forextradingexpress.com/?p=134 Crude oil 18-11Crude oil rose above$80 a barrel on Wednesday as the dollar weakened, prompting investors to once again buy into commodities. However, as I will demonstrate below, Crude Oil may very well be heading for a reversal later today. This might be a good opportunity for forex traders to enter the trend at a very early [...]]]> Crude oil rose above$80 a barrel on Wednesday as the dollar weakened, prompting investors to once again buy into commodities. However, as I will demonstrate below, Crude Oil may very well be heading for a reversal later today. This might be a good opportunity for forex traders to enter the trend at a very early stage and a great entry price.

• The indicators used are the Slow Stochastic, RSI and MACD.

• Point 1: There is a “doji” candlestick that has formed on the chart, indicating that a reversal should take place.

• Point 2: The Slow Stochastic indicates a bearish cross, signaling that the next move may be in a downward direction.

• Point 3: The Relative Strength Index (RSI) indicates that the price of this cross currently floats in the overbought territory, signaling downward pressure.

• Point 4: The MACD indicates an impending bearish cross, which may signal a downward movement is going to occur in the near future.

Crude Oil 4-Hour Chart
Crude oil 18-11

source:  forexyard.com

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