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17th Oct 2014 Light Crude Oil Analysis

17th 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 fell from $84.70 high of yesterday

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 Bottoming out at 80.27, Light Crude Oil barely attained $84.70 at the top of the channel

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 Downtrend channel remains intact as price of oil looks to turn slightly bullish by the MACD

WTI and Brent oil both rose from the lowest level in almost four years as speculation arise that prices having decreased more than justified.

Crude has tumbled into a bear market on concern that a global supply glut is forming. Gasoline increased after U.S. government data showed that inventories of the fuel slipped last week as consumption climbed.

Global stocks sank with crude while Treasuries climbed as concern deepened that global growth is slowing. Bonds from Greece to Spain tumbled. Stocks stayed lower after Labor Department data showed jobless claims unexpectedly dropped last week to their lowest level in 14 years, while industrial production rose in September by the most in almost two years.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
 Slight Bearish78.5580.2782.1884.78889.548383.4580

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