Crude Oil

The daily chart clearly points out that the crude oil price is in a clear and bullish move. All the moving averages that are below and/or support the price action, we consistency seeing higher highs and higher lows and the RSI doesn’t show any sign of weakness. For now we're looking to buy the deeps, and our targets should be 102 and 103.5.

Crude oil - Just get stronger and stronger
Support 99.5 (8 M/A) 98.63 (14 M/A) 97.85 (50 M/A)0
Resistance 102 103.5 107.86


On Friday morning we saw impressive strengthening by the EUR, following a few hours of buying EUR and selling all the other currencies, excluding the CHF. However, the charts below depict how during the Asian session the EUR retreated most of the movement it accomplished throughout Friday, creating a Technical signature. For our technical analysis picture this move in the EUR “revived” our up channel and this morning we're checking the bottom of the channel (around 1.375). For longer analysis you can see that the RSI are quite strong (53.33), and the Stoch’ looks like they going to cross to the upside with price targets at 1.3800 and 1.3861.

EUR/USD - Christmas's technical signature
Support 1.3748 1.3713 (50 M/A) 1.3695 (100 M/A)
Resistance 1.38 1.3861 1.3931


During Christmas, gold trades were above the important 1200 support level, a move that confirmed the end of the bearish downtrend. Currently the price of gold trades near the 1205 level with strong support in that area, if that area holds we should expect the price to recheck and hold above the Fibonacci lines 1211 (38.2%) and 1219 (50%). However, as only weak conformations for some price correction were received, it appears as though the direction of the price is down. If the gold price will break down the 1205 support area, it will fall to 1200 and below that.

Gold - This look like temporary support
Support 1200 1195 1188
Resistance 1211 1219 1226