zhipengcfel

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
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zhipengcfel levikoren
Glad to hear that!
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Very nice. I'm at the beginning of trading, thanks for the info.
It seems most professional technical analysis
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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.
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Thanks i short !
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If it breaks the support line, the short will be confirmed.
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thanks .
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It is my pleasure!
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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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