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| Technical Analysis for Crude Oil 17-8-2015 |
Crude Oil moved last Friday in the average movement of 156 cents, its highest level at 42.92 and the lowest price at 41.36 and closed at 42.13 to Lose 10 cents during Friday’s trading according to the economic data.
Oil opened today's trading at 42.17 volatile between 41.80 and 42.20 during the Asian session trading at 40 cents for the poor liquidity in the market range, and in the European session the oil went up to 41.61
Oil moves in a series of down impulse waves inside the parallel price channel.
It is expected that the oil is heading targeting 40.50 as the target on time frame of four hours, and until 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 the USA
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