By Commoditiesmansion.com – Commodities predictions; Technical analysis for Oil using graphs & indicators Wednesday – April 27, 2011.
Lets see the Oil forecast April 27, 2011.
Light Sweet Crude
The CL had another very quiet day today, as the traders seem willing to take a break at the moment. The $112.50 area is presently acting as a magnet for price, and the market looks slightly vulnerable to a pullback. However, the uptrend is still in effect, and this market shouldn’t be shorted. Buying on the pullback is the way to go.
Brent
Brent has had a very similar day today, hovering in the $125 area, but not gaining any real traction in one direction or the other. The market looks set to pullback, and as such – could present buying opportunities around the $120 mark. Shorting isn’t advised
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