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CL Mar. 16 came back below $30 per barrel

Discussion in 'Current Market Sentiments' started by fx-recommends, Jan 26, 2016.

  1. fx-recommends

    fx-recommends Content Contributor

    Aug 6, 2008
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    CL-Mar.16 Daily 26-01-2016 06-08-17 ص.jpg
    CL Mar. 16 started to retreat again, after reaching $32.73 yesterday following the first considerable try to fix its oversold stance which placed the mixture daily Parabolic SAR (step 0.02, maximum 0.2) below the trading rate yesterday before reading today 27.65 in its second day of being below the trading rate.

    CL Mar 16 daily RSI-14 is referring now to existence in its neutral area reading now 36.254 and also its daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is having its main line now in the neutral region reading 59.736 close to its signal line which is referring to 59.046, after the rebound abated without having a chance to get over its Daily SMA20 forming yesterday long dark day to contain last Friday long white day.

    Important levels: Daily SMA20 @ $32.89, Daily SMA50 @ $36.78, Daily SMA100 @ $41.23 and Daily SMA200 @ $47.40.


    S1: $27.55
    S2: $26.93
    S3: $25.25
    R1: $32.73
    R2: $33.35
    R3: $35.57

    Have a good day

    Walid Salah El din
    Senior Market Analyst
    Skype : chief.economist.walid

    Tel: UK. +44 1138590277
    Mob: EGY. +20 1224659143

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