Tuesday, October 20, 2015

Oil keeps its bearish momentum

Oil keeps its downtrend and has entered again the previous consolidation area below its 55 day exponential moving average (purple line). At the moment, crude may find some support at the 45.69 zone, but if it breaks that level to the downside, then it may try to go and visit the 44.00. To the upside, the 50.00 level may continue acting as a resistance.


at

7 comments:

  1. UnknownOct 21, 2015, 3:20:00 AM

    I fully agree with your analysis.

    ReplyDelete
  2. UnknownOct 21, 2015, 6:59:00 AM

    I agree with your analysis, oil remains negative tone.

    ReplyDelete
  3. UnknownOct 21, 2015, 11:41:00 AM

    I agree, oil will probably continue falling.

    ReplyDelete
  4. UnknownOct 21, 2015, 2:04:00 PM

    It is obvious that is the coming scenario unless OPEC make as they planned.

    ReplyDelete
  5. UnknownOct 21, 2015, 2:43:00 PM

    Great assessment!

    ReplyDelete
  6. RozenOct 22, 2015, 10:50:00 AM

    Looks like it found support at $45

    ReplyDelete
  7. bewayopaOct 23, 2015, 7:10:00 PM

    Oil is very bearish

    ReplyDelete

Subscribe to: Post Comments (Atom)

WTI oil at the 200 day EMA

WTI oil breaks below the 66.27 support zone and accelerates its bearish momentum towards the 200 day EMA around the 64.30 level. We have b...