Oil

Oil can see the channel in which it is traded, repulsed from its lower course of the border continues to grow to the north, the purpose of oil is still at least near the upper slope of the channel - the level of 85.50.

Oil closed yesterday under the 23 levels of Fibonacci support levels, as well as what makes us think to sell more than purchase price under 23 as long as the Fibonacci

http://www13.0zz0.com/2012/07/11/10/824296292.png

if we analyze the weekly chart of oil we can see that the price strayed (formed a double bottom) of the long-term level of 77.60 before oil began to form a new wave of mid-northern end of which a minimum of about 100.00.

But for oil is a trend reversal, price formed a reversal formation "head and shoulders", which was formed on the daily chart, the next time I expect to continue to grow, the goal in the first place 100.00.

Oil is a most valuable asset in the market. It's demand is very high. In some country it is also very costly.

I expect, Oil will increase and the reversal will be100.We need some correction to cope with the current forex trading market.

an oil is any substance that is liquid at ambient temperatures and does not mix with water but may with other oils and organic solvent.

Oil candle closed the week bullish candle closed above the resistance levels predict further rise next week, I expect over 38 levels of Fibonacci next week

http://www14.0zz0.com/2012/07/14/15/471379729.png

CL, floating in the pivot area (86.75). I think oil is still in bullish trend, so it is likely to rise towards the 87.93 level

oil prices last week was able to steadily strengthened above the resistance level of 86.35 then traded almost unchanged, it seems it is gaining strength for further growth, the goal until 90.00.