Daily Market Analysis 01/26/12
KEY TERMS
OVB Outside Vertical Bar
VRCB Volatility Reduced Compression Bar
STT 1 Trend Based on a Range Violation
STT 2 Trend Based on a Close Violation
RBB Resistance Bollinger Band
SBB Support Bollinger Band
Energies
CLH12:
- Trends are bearish.
- Bullish VRCB-OVB combo generated today. STT 1 confirmation of a bottom with a range violation @ 100.25. Possible STT 2 confirmation of a bottom with a close @ 100.25 or higher.
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- March Crude was able to catch hold of the outside markets rally today after initial bearish inventory reports subsided to positive news out of the FOMC.
- Initial Upside Target = 103.63 – 104.88.
- Projected Daily Range: 2.55
- Projected Weekly Range: 4.65
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- Has currently traded 3.00
- Projected Monthly Range: 14.61
NGH12:
- Trends are bearish.
- STT 1 confirmation of a bottom with a range violation @ 2.705. STT 2 confirmation of a bottom with a close @ 2.705 or higher. Upside Target already over 100% achieved.
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- Nat Gas again moved decisively higher today, trading back above 2.800 and through our initial target of 2.802.
- The next upside resistance level will occur @ 2.964 where it should have a hard time cracking the $3.00 threshold.
- Projected Daily Range: .166
- Projected Weekly Range: .320
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- Has already traded .525
- Projected Monthly Range: .640
Parrish Hicks Capital Research is a trading technical analysis firm that specializes in Crude Oil (WTI). The two founders, Jim Parrish and Kris Hicks, have a combined 38 years experience in the commodity business and have accurately called the tops and bottoms of the Crude Oil market for the past eight months using their trading methodology to confirm tops/bottoms, projected trading ranges and projected targets for those ranges. Although their expertise is focused on Crude Oil (WTI), they also provide technical analysis on 30 commodity markets including the energies, metals, equity indexes, currencies, grains, meats, soft’s and interest rates. You can reach them at jim@parrishhicks.com and kris@parrishhicks.com.
