Currently, Oil is below the upside support at 43.68 and with no major news to stir the market, it is probably going to keep trading lower.
Chart: USOil H1
Thursday, November 12, 2015
Oil losing ground
Black Gold is again below $43 and is trading even below yesterday's low of 42.34. Today so far price reached a low of 42.15, the lowest since August 28. According to technicals, there is a possibility that Oil may try to reach the area around $41 before going on the upside again.
Currently, Oil is below the upside support at 43.68 and with no major news to stir the market, it is probably going to keep trading lower.
Chart: USOil H1
Currently, Oil is below the upside support at 43.68 and with no major news to stir the market, it is probably going to keep trading lower.
Chart: USOil H1
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US unemployment claims was unchanged, disappointing the markets, oil price continues to lose ground.
ReplyDeleteThe move to the downside continues.
ReplyDeleteA great short!
ReplyDeleteNot a good sign!
ReplyDeleteInteresting levels to be watchful of, thanks for the info.
ReplyDeleteThe oil seems unstoppable.
ReplyDeleteI feel sorry for the exporters.
ReplyDeleteVery interesting analysis.
ReplyDeleteGreat analysis.
ReplyDelete