18 Sept 2014 Light Crude Oil Analysis


CLV, Light Crude Oil, Crude Oil, Oil, Commodities, Commodity, technical analysis, projection, price projection Downtrend continues from the pull back to 95

CLV, Light Crude Oil, Crude Oil, Oil, Commodities, Commodity, technical analysis, projection, price projection Resistance at the 200 average saw the price consolidated and falling towards 93

CLV, Light Crude Oil, Crude Oil, Oil, Commodities, Commodity, technical analysis, projection, price projection The green light signifies the consolidation region while the top red line is the range to consider for Stop Losses should resistance hold. TPs below 93.

Light Crude Oil rose to 95 before falling back towards 93 after the FOMC press conference earlier today. Technical analysis shows the recent downtrend has retraced by 23.6% and the price of Light Crude Oil looks to hit new lows should 93.-92.8 be broken.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
 Bearish / near support
91.3
92.2
93.3
94.3
95
95.69
94.15
94.8
92
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