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| Technical Analysis for Crude Oil 6-7-2015 |
Oil moved Last Friday in the average movement of 133 cents, its highest level at 56.77 and the lowest price at 55.41 and closed at 55.50 to Lose 95 cents during Friday’s trading according to negative economic data from USA on Thursday and bank holiday on Friday..
Oil opened today's trading at 54.62 to make a Gap with 87 cents After Greeks rejected the terms of the creditors through a yesterday’s referendum...
Oil moves in a series of down corrective waves after breaking the parallel price channel
It is expected that the oil is heading targeting 53.10 as the target on time frame of four hours and till now we see the Bears control on market direction
And the Relative Strength Indicator "RSI" show us Distribution operations at the market
Today we could see sharp trading because of the economic data from USA
Support levels: 55.01 and 54.53 and 53.65
Resistance levels: 56.37 and 57.25 and 57.73
For More Technical Outlook FxStations
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