Monday, January 11, 2016

Light crude oil is back to 12 year lows

Doubts about the Chinese economy continue hurting the prices of oil and the WTI comes back down to the 32.00 zone. Stochastics are entering the over-sold zone, but due to the fact that the MACD indicator is showing us that the bearish trend is getting stronger, then the price may break below the 32.00 level. If the price breaks below the 32.00 level, then the 31.00 could act as support. In case the price retraces to the upside, the 33.00 could act as resistance.


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8 comments:

  1. UnknownJan 12, 2016, 4:26:00 AM

    Well spotted! I'll keep it in mind.

    ReplyDelete
  2. UnknownJan 12, 2016, 9:34:00 AM

    Goldman Sachs expects oil to head toward $20 a barrel before producers decrease output.

    ReplyDelete
  3. UnknownJan 12, 2016, 10:57:00 AM

    The move to the downside continues.

    ReplyDelete
  4. UnknownJan 12, 2016, 1:46:00 PM

    Important information, will keep it in mind!

    ReplyDelete
  5. UnknownJan 12, 2016, 2:35:00 PM

    Oil prices will take long time to rebound. It's expected a fall by another 21%.

    ReplyDelete
  6. UnknownJan 13, 2016, 1:40:00 PM

    Thank you for this interesting post.

    ReplyDelete
  7. RozenJan 17, 2016, 9:58:00 AM

    Interesting read, oil seems unstoppable.

    ReplyDelete
  8. UnknownJan 17, 2016, 12:05:00 PM

    There is no end to the Oil drop. Great analysis.

    ReplyDelete

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