Forex Forums | ForexLasers.com


Go Back   Forex Lasers Forum > FOREX TRADING > Forex Analysis


CRUDE OIL: Slides, Faces Third Day of Decline.

Forex Analysis


Reply
 
LinkBack Thread Tools Search this Thread
  #1  
Old 02-01-2014, 19:18
FXTechstrategy's Avatar
Level III Lasers Member
 
Join Date: Aug 2012
Posts: 54
Default CRUDE OIL: Slides, Faces Third Day of Decline.

CRUDE OIL: With Crude Oil remaining bearish and pointing lower following its continued downside pressure, it faces the risk of further decline in the days ahead. This view remains valid as long as CRUDE OIL trades and holds below the 100.75 level. Support lies at the 95.00 level where a violation if seen will aim at the 93.93 level, its Dec 032013 low. Further down, a break of here will pave the way for a run at the 93.00 level. Further down, support comes in at the 92.00 level, its psycho level and subsequently the 91.00 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance resides at the 97.00 level followed by the 98.50 level. A cut through here could propel the commodity further higher towards the 99.39 level, its Dec 312013 high. Bulls may come in here but if that fails to happen expect further bullishness towards the 100.75 level, representing its Dec 272013 high. All in all, Crude Oil remains biased to the downside on further bearishness.

Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are Off
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
AUDUSD: Faces Further Bearishness. FXTechstrategy Forex Analysis 4 13-08-2015 08:47
EURUSD: Pulls Back, Faces More Bear Threats. FXTechstrategy Forex Analysis 0 02-01-2014 11:39
CRUDE OIL: Loses Upside Steam, Vulnerable FXTechstrategy Forex Analysis 0 12-12-2013 23:25
CRUDE OIL: Set To Weaken Further FXTechstrategy Forex Analysis 1 22-11-2013 16:03


All times are GMT. The time now is 01:42.


Powered by vBulletin® Version 3.8.10
Copyright ©2000 - 2019, vBulletin Solutions, Inc.