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.

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.
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.
Great work
+1 Reply
zhipengcfel smitheric1970
Agreed .Good analysis.
+1 Reply
zhipengcfel TimZhang
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out