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 outlook – crude on major support.

31 sec read

Crude (18.11.2013) fail to stay above 61.8% feb level & fall to main support trendline.

Now crude is trading at $93.35 & as we can see on charts crude is sustaining above the lower trade line of long term ascending channel which made top $112 in last run. This tradeline becoming more powerful when it came in combination of lower trade line of minor descending channel (shown in chart) & a parallel support from the bottom made on in last 3 times. At the same time RSI continue trading with a major possibility of positive divergence.

On fundamental side winter weather may hurt production in coming days in gulf as chilling weather is entering into fast session.crude

 
Based on above studies, we will prefer to buy crude for targets around $96 & then may be $98.90 in coming days while a day close below $92 will force us to reanalyze the charts.

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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6 Replies to “Crude technical outlook – crude on major support.”

  1. here as per your research crude took support but it breake in few days of support line but then it supported at ichomuki see it

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