empty
 
 
10.07.2014 03:36 AM
Short-term forecast of crude for July 10, 2014

This image is no longer relevant

The oil price hit the 20-week Sma and closed below that, which suggests a sell call for a downside target of $96. The price has an initial parallel support at the 101.60 levels. Once breaking below 101.60, we can see a steep fall. In the daily charts, the price closes below the 20,30 and 50-day Sma, but it is holding the previous swing low. Sell again below that or sell on an upmove until it closes above the 103.50 levels. The RSI is in the oversold level in H4 and daily charts, but in the weekly chart it favors to sell.

This image is no longer relevant

Sell below 101.60 targets 100, 99.20, 98.30, and 96

Buy above 103.50.

Sell on the rally with sl 103.50

InstaForex Analyst,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback