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in the h1 time frame the price is rejected from the resistance 93.50 but lower side it is also hold at the 92.55. it is making a pin bar candlestick pattern so try to move again resistance side. we can long oil with the target again resistance at 93.50 with stop loss at 92.40
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But frankly it dingy chart of oil, the levels work very badly, it is seen that there is no money in the market so well-practiced formations ... but still a straight line trend and managed to hold there seems no support what 92 dollars ... so more inclined to grow ...
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Crude Oil (Apr 13) intraday: the bias remains bullish.
Pivot: 91.60
Our preference: LONG positions above 91.6 with 93.5 & 94.45 in sight.
Alternative scenario: The downside breakout of 91.6 will open the way to 90.8 & 90.2.
Comment: the April Crude Oil remains within a bullish channel.
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The light sweet crude market had a bullish session originally, but fell during trading in Wednesday’s afternoon session as the market struggled with the $93.50 level. The International Energy Agency eased its global forecast for demand in 2013, which of course will weigh upon the bullishness of this market. With that being said, there is quite a bit of support down at the $90.00 level, and as a result it’s difficult to imagine a serious breakout at this point.
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well, very good thread...in the m30 chart this pair is start to move in the down channel it is having the resistance at 91.50 if this resistance is break then it will move to the higher resistance side at 91.70 we can long oil with the stop loss at 91.00.
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Well, I think The commodity pulled back to the downside to touch 87.45 area and activate our intraday bullish scenario. A broadening formation may be in progress while oil is trading withing the upper part of the range bound among 90.00-75.00. Thank you .
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G haan lagatar forex mein oil up ja raha tha leikin ab ye down ana start ho gaya hai eis liye eis
pr sell ki bids lagana best hai our umeed hai k eis week ye 94 ko hit kr jaye ga
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in the H1 time frame the price is start to move in the lower side. but it is hold at the support 92.05 upper side it is having a resistance at 93.10. we can short this pair because the price is not able to break last high. short with the target 91.70
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oil
dear,
last 3 days se candal ky hisab sey oil ka trend thora down ja raha hai 96 ky aas pas eska 1 chota sa support hai mera khayal hai ky oil 96 tak jaye ga phir uptrend ho ga.
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Today’s Support and Resistance levels:
S1: 124.70 R1: 125.28
S2: 124.17 R2: 125.68
S3: 123.80 R3: 125.89
Technical overview:
Our invalidation point at 125.89 was tested on Friday, but it did not give away. So it is still an open question whether we have seen wave 4 ending a...