19/12/2014 Light crude oil futures seeks to continue dropping to 50s


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, OPEC, cartel, kuwait, CLF5 continues to plunge towards Fibonacci extension 200.0% at 50.84 amid weaker demand forecast.

 

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, OPEC, cartel, kuwait, Focusing on H4 chart, it is observed that candles were resisted at 58.69 and a continuation of bearish trend is expected.

 

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, OPEC, cartel, kuwait, Candles are nearing the support price at 54.21. If broken below, candles are expected to head towards 50.00.

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Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
Bearish 49.50 50.84 54.21 56.30 58.69 60.50

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