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12/10/2014 5:24:15 AM

Crude Oil - Technical Analysis: Wednesday, 10/12/2014 10:24 GMT



The price stability below 61.8% Fibonacci level that was previously broken opens the way for a potential visit to the next correctional areas, 76.4% Fibonacci at 52.73.

The negative pressure coming from the exponential moving average 50 continues, and stochastic on the oversold areas threshold, giving a possibilities of some sideways fluctuation and attempts to retest the most important resistance at 64.60.

Holding below this level keeps the negative pressure valid


Target
Risk


Support
Resistance


Trend Bearish

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