Navigation

24 Aug 2015 Technical Chart Crude oil Fall continues

Since the beginning of July crude oil has been falling down sharply. The fall is breaking up into lower degree waves. The short-term as well as medium-term momentum indicators are in a bearish mode. In terms of wave structure the oil is forming an impulse on the downside and the fifth leg is forming an extension on the downside. The oil has broken the low of $42.03 on closing basis. Subsequent level on the downside will be $38-35. On the other hand, the swing high of $43.18 will act as a key resistance.
Share

Shubhlaxmi

Shubhlaxmi Commodity is a Free portal where you are provided all market such as Commodity stocks futures and Currency Like USD To INR and internatinol live market prices and live charts and Free support and resistance level

Post A Comment: