Andrei Pehar, Sr. Currency Strategist, fxKnight.com
Known as the "Black Knight" in trading circles, Andrei is a private fund manager, consultant to management, and a sought-after speaker, trainer, and coach for professional traders and individual investors alike. He played in professional chess tournaments at a young age, earning a rating in the U.S. Chess Federation, and went on to further hone his strategic skills by studying Japanese martial arts, bringing with him a unique perspective to the financial markets.
His client list includes prestigious names such as UBS, Tower Asset Management (named by Bloomberg as top asset manager), Clifford Associates (investment counselors since 1915, officially acknowledged as the oldest in the United States), and several other high profile firms specializing in investment and wealth management for musical artists, sports celebrities, and other ultra high net worth individuals and trusts. He is currently working on a book which will, for the first time, introduce retail traders to institutional trading strategies and techniques.
Click Here to view videos by fxKnight
Known as the "Black Knight" in trading circles, Andrei is a private fund manager, consultant to management, and a sought-after speaker, trainer, and coach for professional traders and individual investors alike. He played in professional chess tournaments at a young age, earning a rating in the U.S. Chess Federation, and went on to further hone his strategic skills by studying Japanese martial arts, bringing with him a unique perspective to the financial markets.
His client list includes prestigious names such as UBS, Tower Asset Management (named by Bloomberg as top asset manager), Clifford Associates (investment counselors since 1915, officially acknowledged as the oldest in the United States), and several other high profile firms specializing in investment and wealth management for musical artists, sports celebrities, and other ultra high net worth individuals and trusts. He is currently working on a book which will, for the first time, introduce retail traders to institutional trading strategies and techniques.
Click Here to view videos by fxKnight
How to Determine the Next Likely Direction for Oil
Posted 09-29-2008 at 08:46 PM by fxKnight.com
How to Determine the Next Likely Direction for Oil
With all the turmoil in the markets, how to we get a clear sense of direction? Well, for oil at least, there are two key numbers to watch:
If we finish this week with a close above 110.51, and manage to find some support at that level, then that future direction may well be up, which will not help the U.S. financial markets very much. If such a scenario comes to pass, then the next likely resistance level is at 124.56
If instead trading takes us down below 99.16, then we may be headed to test support at 87.81 next. We may also range in the 99.16 - 110.51 area for another week or two.
With all the turmoil in the markets, how to we get a clear sense of direction? Well, for oil at least, there are two key numbers to watch:
If we finish this week with a close above 110.51, and manage to find some support at that level, then that future direction may well be up, which will not help the U.S. financial markets very much. If such a scenario comes to pass, then the next likely resistance level is at 124.56
If instead trading takes us down below 99.16, then we may be headed to test support at 87.81 next. We may also range in the 99.16 - 110.51 area for another week or two.
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