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29 Sept 2014 Light Crude Oil Analysis

29 Sept 2014 Light Crude Oil Analysis

CLX, Light Crude Oil, Crude Oil, Oil, Commodities, Commodity, technical analysis, projection, price projection Light Crude Oil rebounds off 89.9 as demand rises amidst speculation of extended conflict in Syria

CLX, Light Crude Oil, Crude Oil, Oil, Commodities, Commodity, technical analysis, projection, price projection Minor resistance at 93.26 is tested as lower high looks to break formation

CLX, Light Crude Oil, Crude Oil, Oil, Commodities, Commodity, technical analysis, projection, price projection 200 moving average resistance nears as the price moves towards a higher low formation, supported by 104 moving average in orange

As the U.S and U.K prepare for extended periods of involvement in the Syria and Iraq renaissance against the extremists, the price of Light Crude Oil looks to have bottomed out after hitting the lowest this year as demand rises. A confirmation of reversal will come in the form of price action moving above the moving averages, forming a higher low of prices as seen from the candlesticks.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
Slight Bearish/ Near support89.992.269393.269495

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