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Crude Oil Analysis for October 14 shows that the price uptrend has resumed, R1 foothold above the resistance level. 51.04 and R3 - - The objectives for the upward movement R2 levels currently stand 52.17, if price remains above the level of 49.91. The objectives for the resumption of the downward correction of the levels of 49.21 and 48.08, if the price fixes back below 49.91. The rising trend line support trading at improving and making current long positions. Awesome indicator shows the current upward movement since the last closed bar green. OsMA pointing down, indicating that the downward movement of the character and in the medium term. Bouncing prices from 51.04 could trigger a new round of corrective movement.
Trading recommendations:
From the analysis of oil price movements, we can conclude that now can be seen on the purchase order with the targets 51.04 and 52.17. Stop loss is set below the nearest support level. When entering the transaction in the profitability of 100-150 points, we recommend you open a deal to breakeven. If the price rebounds from 51.04 or consolidates below 49.91, it will witness the correction coil, as well as turn down Awesome. Short positions are not currently relevant.
Trading recommendations:
From the analysis of oil price movements, we can conclude that now can be seen on the purchase order with the targets 51.04 and 52.17. Stop loss is set below the nearest support level. When entering the transaction in the profitability of 100-150 points, we recommend you open a deal to breakeven. If the price rebounds from 51.04 or consolidates below 49.91, it will witness the correction coil, as well as turn down Awesome. Short positions are not currently relevant.
