The Jan'10 CRUDE OIL produced a negative signal yesterday and is currently in a BEAR TREND ACCELERATION technical state.
The price points to focus on are the 75.32 Support Pivot and the 78.11 Inflection Pivot.
75.32 is the confirmation failure point for the current market structure. A break under this price point signals further losses with 73.46 the immediate target.
78.11 is the session Inflection Pivot. This is the market over under level and the high point for any positive squeeze today. If the negative signal is going to play out and positive surge will top out below here. Notable resistance at 77.18 is also expected to provide a reaction as a gauge of any positive push. Accept REVERSAL signals here.
Good Trading
JS
For more information please contact me at info@jsservices.com. You can also visit http://www.jsservices.com/.The Inflection Pivot levels are available as a chart overlay on the following platforms; Ninja trader, Strategy Runner and eSignal. Sign up for a Complimentary FREE Trial
