Oil analysis update on daily chart (2016-03-12)

NYMEX:CL1!   Light Crude Oil Futures
Oil             will meet a huge resistance at around 39.8. The daily RSI also shows a divergence. These will result the pull back soon.

But from time cycle analysis, the correction wave does not finish yet. After the pull back, oil             might go up again to 43.5.

Good luck for everyone!
Successful trading week for everyone
+1 Reply
zhipengcfel levikoren
Glad to hear that!
+1 Reply
Very nice. I'm at the beginning of trading, thanks for the info.
It seems most professional technical analysis
+1 Reply
zhipengcfel levikoren
Thanks for the comments. Everyone starts from the begining. Just keep learning and put what your have learned into your own analysis system.
Thanks i short !
+1 Reply
If it breaks the support line, the short will be confirmed.
thanks .
+1 Reply
It is my pleasure!
+1 Reply
AMBRISH zhipengcfel
I liked it. As per your chart n analysis support is at 34.29 ?
+1 Reply
Thanks. And there are supports at around 36.1 and 35.5. If 36.1 and 35.5 are broken, it might go to 34.3.
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