weekly crude oil analysis

By | August 29, 2015

Last week WTI crude oil prices stunned all sellers and caught them in bad mode when it rocketed 10% in single day , many traders entire a/c has been wiped out and many lost big money on this move but hey its crude oil and its famous to take trader in their worst stage , Crude trend has changed from negative to positive in single day and closed above 45$ , now if crude oil click our weekly oil resistance at 48.20$ and close above our resistance then expect oil to explode upto 50$ – 52.40$ this week

If crude oil click our weekly crude oil support at 41.80$ and close below this major support then expect upper hand in oil upto 40$ – 38$ and even more

Crude oil analysis conclusion : Crude oil trend has changed and so its buy in dips untill trend is not changing and its not closing beneath our weekly support

More will update during live market hours

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