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Forex

25 Sept 2014 Light Crude Oil Analysis

25 Sept 2014 Light Crude Oil Analysis

CLX, Light Crude Oil, Crude Oil, Oil, Commodities, Commodity, technical analysis, projection, price projection Light Crude Oil prices have bottomed out and rebounded on the back of airstrikes launched on Syria by Washington

CLX, Light Crude Oil, Crude Oil, Oil, Commodities, Commodity, technical analysis, projection, price projection The downtrend channel has reached its top and the 200 average is in range

CLX, Light Crude Oil, Crude Oil, Oil, Commodities, Commodity, technical analysis, projection, price projection Resistance at 93.2 was tested and bullish movement subsided

The increased possibility of an extended campaign on Syria has caused the Light Crude Oil futures to price slightly higher in volatility not seen since the previous week. 93.2 was briefly tested as part of the downtrend channel and any resistance in the region is likely to push the price of Crude lower towards 91.2. Should the movement exhaust at 91.2, the trend is likely to resume higher lows and turn bullish.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
 Bearish / Near resistance89.69091.2192.893.294

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