Oil

Once the oil yesterday hem sell signal (lower zone broke fractals) price is not fulfilled, this signal and has the support of 85.40 (week low) began to form a new wave of northern, now has to confirm the northern signal moving forward to break the blue alligator (86.00 resistance figure ) then the goal could be to at least 86.70.

The January futures price of WTI rose to 86.60 dollars a barrel on the NYMEX for the first time in five days after China's crude oil imports increased in November to six-month high as well as German exports unexpectedly rose in October.

The oil was quite volatile today in the New York trading session as German investor confidence index jumped in December to its seven-month high and approaching meeting of OPEC in Vienna, the results of which would by as applying limitations on oil production. The January futures price of WTI fell to 85.20 dollars a barrel than strengthened up to almost 86 level.

~~~~It is time to shop for oil, first price broke through the medium sloping resistance level (trend line), but that there was a break of the upper zone of fractals, + began practiced stochastics buy signal as a 4 hour and still on the daily chart.~~~~

Oil is worth catching just buying, the price broke through the strong resistance level of 86.65, a breakthrough took place with great force and volume of output, he opened the following objectives -87.60 (District 200 moving) and 89.00 figure, a 4 hour chart MASD also put northern signal.

“The trend has been down since September and it’s probably best to look lower since the November low as nothing more than consolidation before additional weakness.” IF crude can sustain a downside break then focus (probably later in the month) would shift to the 78.6% retracement of the rally from 7726 and channel support. Also keep an eye on former trendline resistance, which indicated support on 11/28.

Commodity Trading Strategy: 8550, the first target, was hit several days ago and the rest of the position was stopped out at Monday’s high. 8835/89 is estimated resistance to short into against 9031.

LEVELS: 8363 8454 8565 8765 8835 8889

The Oil had extremely volatile session today on NYMEX, firstly falling when the report the Ministry of Energy showed unexpected increase in U.S. oil and gasoline inventories which grew twice stronger than forecast over the past week, secondly jumping up when the Fed was announcing its decision. The January futures price of light crude oil WTI closed at $86.73 a barrel.

The price of U.S. light crude oil WTI on the NYMEX was down to 85.80 dollars per barrel. It fell after data showed that U.S. retail sales in November rose less than it was expected and number of applications for unemployment benefits dropped to minimum of the month.

time frame - H4
price level 87.85 is a offering a resistance that is not breaking.
now day the trend is also in down direction for this pair we can short this pair at 85.05 level with stop loss 87.85 and take profit is 84.00

Oil

Oil ka 101 ke paas 1 bahut strong resistance lag raha hai...
jab tak isko cross nahi karega tab tak iski buying karna thik nahi lag raha...