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1/12/14 Light Crude Oil slump as OPEC's inaction leads to more concerns over slowing demand.

1/12/14 Light Crude Oil slump as OPEC's inaction leads to more concerns over slowing demand.

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 Monthly charts sees Light Crude Oil falling below the 200 EMA after 5 months of falls for the price of Oil and derivatives with the next support 63.83 the 2009 levels

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 The previous week saw the OPEC refusing to restrict outputs and thus resulting in further price competition from the big boys in order to retain Asian market shares.

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 A break below the downtrend channel sees sharp bearish sentiment towards the next technical support at 57.12 as there are no upcoming data that may see a rebound for oil anytime soon

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 A break below of $68 last week has seen bearish trend extend towards 63.15 in a matter of days.

Broker of the month
Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
Bearish 57.12 60 63.15 70 78 80 65  63  70

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.

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