Oil has broken an important resistance level of 83.90, and is now entrenched above this mark, as the Stochastic Oscillator is oversold and is close to the top begins to unfold, I think the growth to around 86.40 to go on .
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Oil has broken an important resistance level of 83.90, and is now entrenched above this mark, as the Stochastic Oscillator is oversold and is close to the top begins to unfold, I think the growth to around 86.40 to go on .
The RSI is supported by a rising trend line. Long position is preferable above 83.5 with targets 85.45 and 85.85. If it goes to below 83.5 then we can expect downward movement 82.7 and 82.15 as price targets.
Oil today yesterday continued growth and managed to consolidate its position above Ichimoku cloud punched, as an indicator signals the continued growth of oil visible on the N1 and the level of support 84.40, think of it, and begin to rise.
Today, oil has managed to break through the sloping resistance level (trend line) and out of the converging triangle, this time the price is adjusted after the break a little bit to the south, but the resumption of growth in the north, I'll buy it.
The MACD histogram is close to its signal line, continues to slowly decline. Stochastic Oscillator is oversold, and turn on the verh.Schitayu that the price can rise to the level of support 83.70, the estimated goal of 86.50 ....
Oil on the hourly chart has formed the northern upstream channel, this time the price closer to the lower boundary of the channel, I expect her to retreat to the north and the formation of new wave and to near the top of the channel 85.50.
The whole world in dangerzone.
No hope from anywhere in the world.
Eurozone in the crisis,As well as US.
So why less demand fall the oil price.
It may Go more.
World is in the door of New recesion.
In the current situation no technical work is resulting.Quote:
Originally Posted by Pioner3
I think patience will give a good result.
Wait and see.
i don't know much about oil i have never traded it but if you guyz have trade it the you should let me know ,however oil is a great comodity that yeilds great profit esspecialy in the usa stock market .i think the african countries are somehow behind.
Let's have a look at the H1 chart of the pair. The price is below the Ichimoku Kumo Cloud and EMA 200. Moreover, Oil is also at the Ichimoku Kumo Cloud. Therefore, I think it will be down now.
http://s16.postimage.org/7bwq3ou39/Oil.jpg