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3rd Nov 2014 Light Crude Oil Analysis

3rd Nov 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, OPEC, Saudi Arabia, ARAMCO Light Crude Oil rebounds to end the week above $80

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 Higher lows are formed as prices fail to have a clean break below $80

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 Oversold signals on the Stochastics Oscillator coupled with the 3 times test of the support at 79.6 could give rise to a retracement higher before falling again.

Growth in China’s factories fell to a five-month low in October, missing expectations for an expansion as manufacturers battled cooling order growth and rising costs in the slowing economy. The National Bureau of Statistics said on Saturday the Purchasing Managers’ Index (PMI) fell to 50.8 in October from September’s 51.1, surpassing the 50-point level still separates growth from contraction on a monthly basis.

Leading exporters and producers of oil are still battling with an equilibrium to sell oil while keeping overheads covered. Saudi Arabia is not expecting to maintain concessions to Asia for the long term despite their offers at the current moment. U.S and Russia have not cut down on production so long as the operations are profitable.

 

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
 Slight Bearish 78.22 79.6808182.483 81 81.479.6

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