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| Technical Analysis for Crude Oil 15-7-2015 |
Oil moved yesterday in the average movement of 243 cents, its highest level at 53.30 and the lowest price at 50.88 and closed at 52.88 to Gain 93 cents during yesterday’s trading according to the economic data...
Oil opened today's trading at 53.29 volatile between 53.12 and 53.48 during the Asian session trading at 36 cents for the poor liquidity in the market range, and in the European session the oil went down to 52.62
Oil moves in a series of down corrective waves after breaking the parallel price channel
It is expected that the Crude OIL is heading targeting 51.41 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: 51.40 and 49.93 and 48.98
Resistance levels: 53.82 and 54.77 and 56.24
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