crude oil : current comments

Hong Kong Qindex 02:46 GMT August 27, 2006
Crude Oil (October) : The current expected lower trading range is 70.11 - 71.03 - 71.96 and the upper trading range is 73.81 - 74.74 - 75.66. (The neutral zone is 71.96 - 72.89 - 73.81 and it is the most likely trading range). The daily directional indicator is 70.96* - (72.15) - 72.89. The market is negative when it is trading below 70.96*. The distribution profile of super magnets are as follow : - (64.11) - 65.46* - (67.63) - 68.21* - 69.18 - 70.96* - 71.03 - (71.15) - 72.89 - 73.71* - (74.67) - 74.74 - 76.46* - 76.59 - (78.19). A projected supporting barrier is located at 69.69 . A projected barrier is located at [72.90]*. A projected resistant point is positioning at 75.01.

============================================================



General Remarks : Resistance at [72.90]*



As stated in the "Trading Reference" the market is negative when it is moving away from the center [72.90]*. It is likely that the market will vibrate around [72.90]* with an expected magnitude of 69.97 - 75.83. The mid-point reference of 67.04* - 69.97 is 68.51 and the mid-point reference of [72.90]* - 75.83 is 74.37.

The daily cycle projected series is always a good reference. Initially the market is likely to vibrate around 72.89 with an expected magnitude of 71.96 - 73.81. The lower barrier is expected at 70.11 // 71.03 and the upper barrier is positioning at 74.74 // 75.66. Sell on rallies is the preferred trading strategy (qindex.com).