Daily Technical Report 7/27
SEP CRUDE OIL Resist: 9090-9103*, 9263 ST Trend: Sdwys/Up
(8943) Supprt: 8823, 8765*-43, 8680, 8460 Obj: 9700? TRP: 87.65
Comment: The market is still short term bullish, but this week’s action remains caught in a near term
correction. A close under 8765* confirms a multi-day pullback with a drop under 8460 extending selloffs
against 8364*-26 support. The stable action off 8765* hints for secondary rallies, but a close over 9103* is
needed to rekindle bull trending advances. Secondary rallies capped under 9103* caution for further
corrections.
SEP US DOLLAR Resist: 8320-8322, 8364* ST Trend: Sdwys/Down
(82905) Supprt: 8248, 8200-8186 Obj: 8200- TRP: 83.64
Comment: Yesterday’s drop signals a short term negative turnover and warns for a harder retracement
back to the upturn levels of the last bull wave around 8200. Trade is poised for selloffs over the next few
days. A close under 8186 is negative. Any rebounds from residual bull forces will need to muscle a close
over 8364* to recapture bull trend forces.
