zhipengcfel

Support and resistance levels for usoil (2016-07-09)

NYMEX:CL1!   Light Crude Oil Futures
Oil             broke out of the triangle at 45.9 this Thursday and it is coming to bottom of the decline channel. It will have more room to down if it breaks the support of the decline channel line.

Please refer to the flowing charts to compare.
USOIL NEXT STEP OUTLOOK and TRADE OPPORTUNITY (2016-06-25)
US Oil: Watch for the resistance zone at 49.2~50.1
Targets for USOIL correction

Compare with CLQ2016             the price has already broken the rising channel . The price might go to around 40 in the following weeks.

Good luck for everyone!
Comment: It seems that oil got supported at the bottom channel line and the red trend line.
snapshot
Comment: I am going to long oil again (the holding time depends on whether it can break out of the decline channel). It seems that it got supported from the channel line and red line.
Trading opportunity for USOIL next week (2016-07-17)
Agreed .Good analysis.
+1 Reply
zhipengcfel TimZhang
Thanks.
Reply
Great work
+1 Reply
zhipengcfel smitheric1970
Thanks!
Reply
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