after viewing the chart we can take the uptrend in consideration due to the pair is closed above level 95.00 . as a result of that , the long direction is very expected and the pair might head to level 110.00 for next week, good luck...
Thread: Oil
after viewing the chart we can take the uptrend in consideration due to the pair is closed above level 95.00 . as a result of that , the long direction is very expected and the pair might head to level 110.00 for next week, good luck...
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If a M15 close above 88 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 86 sell only and do not buy. If price closes back above it again do nothing
The range 85 and 86 is neutral area, any trade done in between is personal decision and not part of this analysis
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dear mate i am trying to get market technical over view for OIL
according to market technical analysis the market have down trend
the market trend is in sell position
expected resistance and support levels
market price ----------53.72
1- Resistance level----------53.80
2- Resistance level----------53.88
3- Resistance level----------53.98
1- Support level-------------53.65
2- Support level-------------53.60
3- Support level-------------53.51
The short term trend of the oil is to the upside. Intraweek trading range of the Oil is expected among key support at 82.60 and key resistance at 91.80. Based upon my chart analysis, I prefer to buying the oil around 85.10 with targets 88.40 then 90.00 and stoploss with daily closing below 84.00
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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.
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Oil was trading all day virtually unchanged, the couple is in a corrective phase after yesterday's strong growth rate close to the blue line Ichimoku, the underlying trend-north, with the resumption of growth will be buying.
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Todays Oil Resistance & Support
Resistance
1-Resistance 61.72
2-Resistance 61.85
3-Resistance 61.97
Support
1-Support 61.38
2-Support 61.24
3-Support 61.06
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The January futures price of WTI rose to 88.13 dollars a barrel on the New York Mercantile Exchange. Futures rose by 0.8 %, after U.S. President Barack Obama made a new proposal as the solution of avoiding the
“fiscal-cliff” and House Speaker, John Boehner was able to change his opinion on the higher tax rates for high-paid employees in order to make a step towards the accomplishment of the agreement.
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If a M15 close above 88 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 86 sell only and do not buy. If price closes back above it again do nothing
The range 85 and 86 is neutral area, any trade done in between is personal decision and not part of this analysis
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
Crude Light was opened and immediately closed below its daily pivot (85.40) on the H1 timeframe. So I think CL will try to touch the 84.33 level, and will likely continue to fall to a level of 83.50
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