 |
| Technical Analysis for Crude Oil 3-8-2015 |
Oil moved last Friday in the average movement of 188 cents, its highest level at 48.59 and the lowest price at 46.72 and closed at 46.87 to Lose 155 cents during Friday’s trading according to the economic data...
Oil opened today's trading at 46.75 volatile between 46.40 and 46.90 during the Asian session trading at 50 cents for the poor liquidity in the market range, and in the European session the oil went down to 46.25
Oil moves in a series of down impulse waves after returning to the parallel price channel
It is expected that the oil is heading targeting 45.40 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
Support levels: 46.19 and 45.52 and 44.32
Resistance levels: 48.06 and 49.26 and 49.93
More Technical Outlook FxStations
0 comments:
Post a Comment