Oil Targeting $55.00

by Ashraf Laidi
Mar 19, 2009 14:37

Oil Targeting $55.00 - Oil Mar 19 (Chart 1)

Oils break above its 100-day MA for the first time since August has further upside to garner as the momentum traders will be prompted by ample territory towards the $55.00-20 target. Todays most likely close about $50.30, is already validating the uptrend, while a close above $50.80 for the week should spell more definitive upside as it signals the top of the rising channel from the Feb 19 low. Integrating intermarket analysis into my underlying assessment for prolonged gains in risk appetite, the time element remains supportive, especially as this remains clearly a dollar-driven story.

 

More Hot-Charts

  • Patterns on Fridays & Mondays

    Mar 30, 2026 14:38 | by Ashraf Laidi
    Since the start of the war on Iran, the pattern of falling Fridays in US equity indices has become obvious. Will the pattern ends this week.
  • Pre Fed Technicals

    Mar 18, 2026 14:52 | by Ashraf Laidi
    سأرسل رسالة صوتية و كتابية توضيحية لأعضاء مجموعة الواتساب الخاصة حول هذه المخططات - Will send detailed note on latest parameters to our WhatsApp Bdcst Group...
  • GoldBugs & Levels

    Mar 3, 2026 16:14 | by Ashraf Laidi
    سأرسل رسالة صوتية و كتابية توضيحية لأعضاء مجموعة الواتساب الخاصة حول هذه المخططات - Will send detailed note on latest parameters to our WhatsApp Bdcst Group - -...
Hot-Chart Archives