Hiisham
Long

Daily Analysis for oil - Friday, Next weeks trade

TVC:USOIL   WTI Crude Oil
99 0 4
Crude oil             prices Decreased yesterday at its lowest level in three weeks, in spite of the decline in the dollar against major currencies in the financial markets, as rising US inventories of crude oil             also appeared in Energy Agency last US report indicates worsening of supply in the market. This which indicates the imbalance of supply and demand to push crude oil             prices to drop

technically: oil             fell strongly down to the first and second levels of $ 45 and then to $ 43.50 a barrel and waiting further decline towards 41.90, which represents the point C to form the Butterfly and also the rising levels of the trend on the Daily that it is possible that crude oil             is given to the top to target 46.00 levels then to $ 49.00 a barrel, while maintaining a stop loss close on the lowest uptrend
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