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The harsh winter in US could drive the oil prices higher

Discussion in 'Current Market Sentiments' started by fx-recommends, Jan 25, 2016.

  1. fx-recommends

    fx-recommends Content Contributor

    Aug 6, 2008
    Likes Received:
    Brent Mar. 16 Daily 25-01-2016 06-12-12 ص.jpg
    After Brent Mar. 16 could shrug off higher than expected rising of US crude inventories containing last Wednesday falling to $27.10 by rising to $29.83 last Thursday, it could extend this rebound to reach $32.48 in the beginning session of the new week touching its Hourly 100SMA currently and getting closer to its Daily 20SMA

    The oil prices have been negatively impacted by implying the Iranian nuclear deal but it could now contain most of last week falling which reached $27.10.

    Brent Mar. 16 daily RSI is now well into the neutral region reading 44.591 while its daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is having now its main line in into 90.327 leading its signal line which is still in the neutral region reading now 62.406, after continued existence in the oversold area below 20 since Jan. 8.

    Brent Mar. 16 daily Parabolic SAR (step 0.02, maximum 0.2) is referring today to $27.20 in its second day of being below the trading rate, after rising extension last Friday to $32.29.

    Important levels: Daily SMA20 @ $32.89, Daily SMA50 @ $38.09, Daily SMA100 @ $43.47 and Daily SMA200 @ $51.27


    S1: $29.28
    S2: $27.10
    S3: $25.51
    R1: $32.66
    R2: $35.25
    R3: $38.97

    Have a good day

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

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

    To open your account at Trade-24 - Click here

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