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.

Crude Technical Analysis – Continue Holding Support.

28 sec read

Crude (16.9.2014) continue trading in tight range after finding a support just under $90 mark as mention in our last article. Last few days trading showing a slow down in downside movement while the construction of positive candlestick pattern with continue positive divergence suggesting a bounce ahead. A lower trend line support of minor descending channel still favor shot covering.

On fundamental side, last 4 constitutive inventory withdrawal in crude & upcoming maintenance shut down might starting support at this area.

crude 4 hr

 
Based on above studies, it is possible for crude to move for some upside targets around $94.90 & then $96.50 in coming trading session while a close below $89.50 will delay the forecast.

Note – Above technical analysis is our observation not to consider as a buy/sell recommendation just for informational purpose only.

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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