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| Technical Outlook For Oil |
Technical Outlook For Oil
Crude Oil moved yesterday in the average movement of 354 cent, its highest level at 46.73 and the lowest price at 43.19 and closed at 45.90 to gain 192 cent during yesterday’s trading according to the economic data.
Oil opened today's trading at 46.11 volatile between 46.32 and 45.63 during the Asian session trading at 69 cent for the poor liquidity in the market range.
Oil moves in a series of up corrective waves after breaking channel.
We saw the pair achieved our target at 45.31
It is expected that the oil is heading targeting 44.66 as the target on time frame of four hours, and until now we see the bulls control on market direction
And the Relative Strength Indicator "RSI" show us accumulation operations at the market.
Today we are looking for Economic data from usa like unemployment claims at 12:30 GMT.
Support levels 43.81, 41.73 and 40.27
Resistance levels: 47.35, 48.81 and 50.89
More Technical Outlook FxStations
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