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| Technical Analysis for Crude Oil 9-7-2015 |
Oil moved yesterday in the average movement of 203 cents, its highest level at 52.93 and the lowest price at 50.90 and closed at 51.83 to Lose 104 cents during yesterday’s trading according to the economic data...
Oil opened today's trading at 51.79 volatile between 51.53 and 52.20 during the Asian session trading at 67 cents for the poor liquidity in the market range, and in the European session the pair went up to 52.65
Oil moves in a series of down corrective waves after breaking the parallel price channel
It is expected that the oil is heading targeting 50.90 as the target on time frame of four hours to make a little of correction, 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: 50.84 and 49.85 and 48.81
Resistance levels: 52.87 and 53.91 and 54.90
For More Technical Outlook FxStations
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