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2 Oct 2014 Light Crude Oil Analysis

2 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 Light Crude Oil trades below the supporting trendline and below 90.8 on the daily charts

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 The resistance at 92.3 holds strong as the moving averages converge and dip, with prices back to the lowest in September

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 A correction towards resistance at 91.2-92.2 will see the price of Light Crude Oil fall towards new lows of 89.59 not seen since April 2013

A bearish drop after prices almost  reattain 95 saw a rebound towards 93 before falling lower to break the uptrend channel for Light Crude Oil futures. The movement swings bearish if 91.21 resistance holds strong and we could see prices fall to the lows of April 2013.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
 Bearish 89.59 90 90.3 92.3 92.8293

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