Oil

oil

Today's my technical analysis

Pivot point is =61.60


Resistance 3: 63.55

Resistance 2: 62.87

Resistance 1: 62.25


Support 1: 60.98

Support 2: 60.30

Support 3: 59.68

Today,Initial support at 100.00 (Intraday Support) followed by 98.00 (Intraday Support). Initial resistance is now at 103.00 (Intraday resistance) followed by 105.00 (Intraday Resistance).

SUPPORT AND RESISTANCE LEVEL FOR TODAY

Pivot Point is 61.47


Support 1 61.14

Support 2 60.94

Support 3 60.61


TREND: BEARISH


Resistance 1 61.67

Resistance 2 62.00

Resistance 3 62.20


Trade at your own risk

My analysis of Oil

Today Trend is:sell

Resistance and Supporting level today,s


Resistance level t is :

First Resistance is:61.96
Second Resistance is: 62.24
Third Resistance is: 62.68


Supporting levels is :

First Support is: 61.49
Second Support is:61.12
Third Support is:60.81

Moving steady above $ 57 a barrel, oil prices are still buoyed by political turmoil in Saudi Arabia and optimism for an extension of an output-cutting deal by major oil-producing countries. The short-term focus of the oil market will be on the release of oil rig data by Baker Hughes ahead of closing.

For upside movement a break above $ 58.00 is needed to pave the way for a move up towards $ 59.0 or even $ 60.50 in the long run. Meanwhile, a break below the support of $ 56.50 could trigger a bearish correction back to the $ 55.30 area.

Resistant: 58.00 - 59.00 - 60.50

Support: 56.50 - 55.30 - 53.70

Moving steady above $ 57 a barrel, oil prices are still buoyed by political turmoil in Saudi Arabia and optimism for an extension of an output-cutting deal by major oil-producing countries. The short-term focus of the oil market will be on the release of oil rig data by Baker Hughes ahead of closing.

For upside movement a break above $ 58.00 is needed to pave the way for a move up towards $ 59.0 or even $ 60.50 in the long run. Meanwhile, a break below the support of $ 56.50 could trigger a bearish correction back to the $ 55.30 area.

Resistant: 58.00 - 59.00 - 60.50

Support: 56.50 - 55.30 - 53.70

OIL is bearish.

1 Resistance 61.67
2 Resistance 62.00
3 Resistance 62.20

1 Support 61.17
2 Support 60.95
3 Support 60.65

oil kaafi time se bnahut strong chal raha tha may be because of Libiya riots..
lekin last kuch dino se oil kaafi down gaya hai..isne recently 94 ki value ko tod diya hai..
ab tak isne uptrend ka koi signal nahi diya..to lagta hai ki ye aur neeceh ja sakta hai

Crude prices decoupled from equity markets yesterday, pulling back from resistance the 23.6% Fibonacci retracement level ($85.83) to form a bearish Dark Cloud Cover candlestick pattern � hinting more losses are ahead � even as the S&P 500 pushed higher.

Currency pair is; WTI Oil
Hour 4 Trend; Sell

Support and Resistance Levels:
Support 1===== 61.70

Support 2===== 61.48

Support 3===== 61.26

Resistance 1===== 61.89

Resistance 2===== 62.17

Resistance 3===== 62.50