22 Sept 2014 Light Crude Oil Analysis


CLV, Light Crude Oil, Crude Oil, Oil, Commodities, Commodity, technical analysis, projection, price projection Light Crude Oil fails to break above the 200 moving average as 95.00 is reattained.

CLV, Light Crude Oil, Crude Oil, Oil, Commodities, Commodity, technical analysis, projection, price projection Staying above 92.4, the price of Crude Oil is likely to retest 93.6 and gain towards 95 yet again.

CLV, Light Crude Oil, Crude Oil, Oil, Commodities, Commodity, technical analysis, projection, price projection Price looks oversold on the H4 charts and upon the reversal at support 92.2, 91.4, Light Crude Oil looks to reattain 93.67 and continue the higher low formation.

Light Crude Oil remains below the 200 moving average on the Weekly and Daily timeframes and on the H4, resistance at 95 also occurred on the 200 moving average. Though the overall bearish action on the price of CLV remains, the rebound off the low of September gives rise to a possible higher low and support at 92.2-92.4 looks capable of retesting 93.6 and 95

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
Slight Bullish 91.23 91.44 92.24 93.3 94.56 95

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