Oil Price Moving Higher

Posted by: : Shayne HeffernanPosted on: July 5, 2013 Oil Price Moving Higher

Crude Oil (Aug 13) intraday: bullish bias above 99.8

Pivot: 99.80
Our preference: LONG positions above 99.8 with 102.1 & 102.9 in sight.
Alternative scenario: The downside penetration of 99.8 will call for a slide towards 99.2 & 98.35.
Comment: the RSI lacks downward momentum.

Opinion published is an intraday view. Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point |

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Shayne Heffernan holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.
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