Mantraa Commodity Mantra commodity is an analyst group involved in technical analysis of all major commodities gold, silver, crude, copper, natural gas etc. Mantra commodity serving to clients from last 7 years & made a strong bond of trust with our dedication towards work.Our main functioning area is .Technical analysis on all major commodities available HERE. Or you can write us on mantracommodity@yahoo.com HaPpY TrAdInG.

IS Crude Ready to Fall More?

32 sec read

Crude(30.10.2014) fall sharply in last couple of weeks & likely continue.

Now crude is trading around $81.30 & we can see on charts crude unable to trade able broken support area of $84.20 while a formed a very bearish candlestick pattern just below the resistance. The minor ascending channel broken by crude suggest that consolidation done here & we may witness more downfall in coming trading sessions. Technically crude may find support at $79-77 area but before the hidden negative divergence (LH/HH) will do its job.

On fundamental side, crude inventories continue rising while end of QE3 & slowing economy from europe & china will put more pressure.

crude oil

 
Based on above studies, crude probably downside for possible targets around $79.20 & then $77.30 in coming trading sessions. However a day close above $84.20 will reject the forecast.

 
Note – Above technical analysis is not a buy/sell recommendation. For recommendations Contact Us 

Mantraa Commodity Mantra commodity is an analyst group involved in technical analysis of all major commodities gold, silver, crude, copper, natural gas etc. Mantra commodity serving to clients from last 7 years & made a strong bond of trust with our dedication towards work.Our main functioning area is .Technical analysis on all major commodities available HERE. Or you can write us on mantracommodity@yahoo.com HaPpY TrAdInG.

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