27/01/15 Light Crude Oil prices find support at 45.00


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

Light Crude Oil prices find support at 45.00 after OPEC Secretary-General Abdalla El-Badri said insufficient investment could push prices to $200 a barrel and OPEC is open to talks with outside producers. El-Badri comments sparked the rally in oil prices away from 45.00. Stochastic oscillator hooks above 21 away from the oversold region, indicating a stronger buying action in the market. Should candles continue to rise, candles could again be tested by the 55 EMA as a resistance within the next 1 or 2 days.

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

As focus on H1 chart, the pair starts to be supported at 45.00. Should candles continue to hold above 45, a Fibonacci Expansion could be used to identify the different levels of exhaustion.

 

Trend Direction
S2
S1
R1
R2
 R3
Bullish if candles continue to hold above 4544.4145.0046.4046.90 48.07

    Share Your Opinion, Write a Comment