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10 Oct 2014 Light Crude Oil Analysis

10 Oct 2014 Light Crude Oil Analysis

CL, futures, commodity, commodities, oil, light crude, crude oil price, crude oil forecast, crude oil outlook, Crude Oil analysis, Crude Oil technical analysis, Crude Oil outlook, Crude Oil price, Light Crude Oil analysis, Light Crude Oil forecast, Light Crude Oil outlook, Light Crude Oil price, Light Crude Oil technical analysis, Light Crude Oil analysis, Light Crude Oil forecast, OPEC, Saudi Arabia, ARAMCO Light Crude Oil plunges towards $84

CL, futures, commodity, commodities, oil, light crude, crude oil price, crude oil forecast, crude oil outlook, Crude Oil analysis, Crude Oil technical analysis, Crude Oil outlook, Crude Oil price, Light Crude Oil analysis, Light Crude Oil forecast, Light Crude Oil outlook, Light Crude Oil price, Light Crude Oil technical analysis, Light Crude Oil analysis, Light Crude Oil forecast, OPEC, Saudi Arabia, ARAMCO Sell zone marked in yellow as market demand and supply is clearly the main determinant in the falling Oil prices.

CL, futures, commodity, commodities, oil, light crude, crude oil price, crude oil forecast, crude oil outlook, Crude Oil analysis, Crude Oil technical analysis, Crude Oil outlook, Crude Oil price, Light Crude Oil analysis, Light Crude Oil forecast, Light Crude Oil outlook, Light Crude Oil price, Light Crude Oil technical analysis, Light Crude Oil analysis, Light Crude Oil forecast, OPEC, Saudi Arabia, ARAMCO Will Light Crude Oil bottom out at 81.5?

Oil continues sliding amid concerns that supplies are rising while demand falters. Shale oil is set to boost U.S. crude output to the most in more than three decades. Supplies from OPEC rose in September. Refineries in U.S continue to boast surplus in production.

Saudi Arabia, the world’s biggest exporter, cut prices for November exports to Asia to the lowest level since 2008. The IMF reduced its global growth forecast for this year and next, further declining expectations for demand for oil for manufacturing and production usage in industries.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
 Bearish77.381.58485.486.388.1

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