Support: 104.00, 103.40, 103.25, 102.65, 102.00
Resistance: 104.70, 105.20, 105.95, 107.10, 108.00
Recommendation Based on the above, buy WTI oil futures above 103.40 targeting 105.20 and stop-loss below 102.60
Tuesday, 27 May 2014
Oil Market Update
The price is still trading positively after retesting the previously
breached resistance level and is turning to support now at 103.40
showing on graph above, as the price needs to stabilize above this level
to extend the bullish bias in the upcoming period. The price is still
getting good support from SMA 50 and 100 strengthening the opportunities
of targeting 105.20 levels then a breaching attempt to extend gains
towards 107.35.
Support: 104.00, 103.40, 103.25, 102.65, 102.00
Resistance: 104.70, 105.20, 105.95, 107.10, 108.00
Recommendation Based on the above, buy WTI oil futures above 103.40 targeting 105.20 and stop-loss below 102.60
Support: 104.00, 103.40, 103.25, 102.65, 102.00
Resistance: 104.70, 105.20, 105.95, 107.10, 108.00
Recommendation Based on the above, buy WTI oil futures above 103.40 targeting 105.20 and stop-loss below 102.60
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