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FuturesPros Daily Analysis March 1, 2010

Crude Oil Visual Trading Update

Current Trading Plan:

Position: SHORT
Last (18-02-2010) Closed position @ 78.50 (-$1.7)
Long: --
Short: Below Since 23-02-2010 at 79.00
Exit by Stop Loss: at 79.00 (Breakeven)

Technical Indicators Notes:

Last time we said: "No change here. The triple-top-Head-and-shoulders
reversal is still in effect, and we wait to see if the negative RSI-STOC
combination will confirm this. As you know, STOC is usually leading the way
for RSI, and we see now a reversing STOC from its overbought area, while RSI
has not reached its own. It is a bearish setup to follow. And another thing:
MACD has perform a "kiss of death" pattern (MACD line touching and reversing
from its signal line)."

No change besides our move for the SL to breakeven. We still believe in the
potential Head and Shoulder pattern depicted in the daily chart, but the
behavior of the overall risk-complex is bothering us, while being short this
asset. We have now a risk-free trade.

Charts Legend:

In Price Window:
Simple Moving Average (20): Green
Bollinger Bands (20,2): Violet
Support & Resistance price areas: Pink and Light Green areas
Trend lines and Channel Boundaries: Blue
Elliott Waves Counts: Black and Blue numbers

In Indicators Part:
RSI (10): Blue, STOC(5,3,3): Green, ATR(5): Blue
MACD (12,26,9): Blue, Signal: Red, Histogram: Green
Indicator trend lines and effects: Magenta


Long:  Above the Green line
Short: Below the Red line
Exit position: On crossing the Cyan line
SL in case of triggered level: Dashed Cyan Line


Futures trading analysis written by Moshe Shalom for


Trading Futures and Options on Futures and Cash Forex transactions involves
substantial risk of loss and may not be suitable for all investors. You
should carefully consider whether trading is suitable for you in light of
your circumstances, knowledge, and financial resources. You may lose all or
more of your initial investment. Opinions, market data, and recommendations
are subject to change at any time.