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Crude Oil






1/14/2016 2:13:16 AM

Oil breaks through a descending price channel's ceiling - Technical Analysis - 14-01-2016



Crude oil prices suffered from high volatility in the intraday levels, starting the day with a rise that confirmed the break of the ceiling of a descending price channel that limited the crude' previous movements in the short term, with an influx of positive signals from relative power indicators, and a continuous negative pressure from the simple moving average for the period 50.

Therefore we expect crude to rise, targeting the first resistance at 32.09.


Target
Risk


Support
Resistance


Trend Bullish

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