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5th Nov 2014 Light Crude Oil Analysis

5th 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 slides to 76.22 on the 50% of the uptrend Fibonacci Retracement, attaining the low of August 2011.

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 Downtrend channel has been broken but downwards, indicating a much more steeper fall is likely should 76.22 support not hold

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 hits 76.22 low and rebounds to 77.29 as Traditional MACD signals a retracement in the bearish trend

Oil tumbled to a three-year low as Saudi Arabia price cuts continued a selloff in crude. West Texas Intermediate (WTI) crude slid 2.8 percent to $76.58 a barrel after reaching as low as $75.84. Oil prices fell into a bear market last month as global demand growth slowed and supplies swelled from producers outside OPEC, with the U.S. pumping at the fastest pace in more than three decades. A resistance today at the H4 downtrend channel could signal even more drops as fundamentally over supply and short demand weighs over technicals

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
 Bearish 67.11 73.8176.227878.579.447878.674

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