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CL Mar. 16 returned to $33 area, after meeting resistance at $34.81

Discussion in 'Current Market Sentiments' started by fx-recommends, Feb 1, 2016.

  1. fx-recommends

    fx-recommends Content Contributor

    Aug 6, 2008
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    CL Mar. 16 Daily 01-02-2016 06-38-06 ص.jpg
    CL Mar. 16 is now trading near $33, after extending its rebound from $27.55 to $34.81 which has been reached following breaking its previous resisting level at $32.80 which dragged the mixture down to form a higher low at $29.25.

    CL Mar. 16 which is still well above its daily SMA20 is in its sixth consecutive day of being above its Parabolic SAR (step 0.02, maximum 0.2) which is reading today 28.76.

    CL Mar 16 daily RSI-14 is referring now to existence in its neutral area reading 48.669 and also its daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is having now its main line in the neutral region reading 75.959 with its signal line which is referring to 77.354 coming from the overbought area above 80, after facing resistance at $34.81.

    Important levels: Daily SMA20 @ $32.10, Daily SMA50 @ $36.06, Daily SMA100 @ $40.763 and Daily SMA200 @ $46.96.


    S1: $29.25
    S2: $27.55
    S3: $26.93
    R1: $34.81
    R2: $35.57
    R3: $38.37

    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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