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| Technical Analysis for Crude Oil 22-7-2015 |
Oil moved yesterday in the average movement of 156 cents, its highest level at 51.38 and the lowest price at 49.83 and closed at 50.88 to Gain 95 cents during yesterday’s trading according to the economic data...
Oil opened today's trading at 50.65 volatile between 50.05 and 50.65 during the Asian session trading at 60 cents for the poor liquidity in the market range.
Oil moves in a series of down corrective waves after breaking the parallel price channel
It is expected that the OIL is heading targeting 49.00 as the target on time frame of four hours to make a little of correction, 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: 50.01 and 49.14 and 48.46
Resistance levels: 51.56 and 52.24 and 53.11
More Technical Outlook FxStations
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