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 [email protected] 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

[wp_ad_camp_5]

 
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 [email protected] HaPpY TrAdInG.

Gold Technical Analysis – Bullish View

Gold is a one trading instrument where fundamentals are outlawed while inflation is skyrocketing and globally Central banks are racing for the interest rate...
Rajandran R
20 sec read

Gold to Hit All-Time High? How Small Investors can…

I know, in this Bitcoin era if someone is talking about Gold they could be either a 70s kid or an 80s kid. Well,...
Rajandran R
1 min read

Silver Momentum Pullback Trade Setup

After a significant momentum in Silver 11.77 to 29.85 silver started correcting in the month of Sep 2020 towards 21.66. Last week silver plunged...
Rajandran R
22 sec read

Leave a Reply

Get Notifications, Alerts on Market Updates, Trading Tools, Automation & More