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7 Oct 2014 Light Crude Oil Analysis

7 Oct 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 Resistance price as indicated by the arrow, as price of Light Crude Oil stays below 92 after a retest of 89 yesterday

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 91.3-92 are the key selling price range as the trend swings towards larger drops than rises.

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 The green line is highlighted as a possible selling entry, with the red line at 91.8 as stop loss, and should the price retrace would be an excellent entry to catch this on the short.

Weak demand and over-production have driven oil prices lower and the reverse is yet to be seen. Global supply have overtaken demand and oil producers are keen to offload at a cheaper rate to reduce surplus in storage. Lower highs can be seen on the Light Crude Oil movements as it looks to break 88, where the last time it attained 85 was in April 2013.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
Bearish88.158989.5490.7991.892.891.2591.889

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