CRUDE OIL Bull Pressure Sets For The 43.1942.56 Zone

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This is our latest outlook on Crude Oil. The commodity extended its weakness on Friday to close the week lower. It also reversed most of its previous week gains. This has turned risk to the 43.19 zone


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11/01/2015 FXTechstrategy Commodity Technical Strategy Commodity Technical Research CRUDE OIL Bull Pressure Sets For The 43.19/42.56 Zone Gives You A Trading Decision Edge Saturday 07 Nov’15 Highlights:

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F 11/01/2015 FXTechstrategy Commodity Technical Strategy CRUDE OIL: The commodity extended its weakness on Friday to close the week lower. It also reversed most of its previous week gains. This development has opened the door for more weakness towards its key support at 43.19 zone. On the downside support resides at the 42.56 level where a break will expose the 42.00 level. A cut through here will set the stage for a run at the 41.00 level. Further down support resides at the 40.00 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside resistance resides at the 45.50 level. Further out resistance resides at the 46.00 level. A break above here will aim at the 47.00 level and then the 48.00 level followed by the 49.00 level. All in all Crude Oil remains biased to the downside with eyes on the 43.19/42.56 zone. USDCAD

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f 11/01/2015 FXTechstrategy FXT Technical Strategist Plus This report is prepared solely for information and data purposes. Opinions estimates and projections contained herein are those of own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed to be reliable but no representation or warranty express or implied is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which incurs any responsibility. does not accept any liability whatsoever for any loss arising from any use of this report or its contents. This report is not construed as an offer to sell or solicitation of any offer to buy any of the currencies referred to in this report. Click here for full disclaimer Disclaimer

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