Hi, I am glad to share with you the daily strategy for the Crude Oil, hope it will help you trade better.

Did you know?

Deposit size

We offer traders the opportunity to work on the money market regardless of the size of the working capital. You simply choose the most comfortable working conditions that suit your deposit and start trading on the Forex market. You can begin working with a deposit of any size, — $10 or $100000 — accurately increasing it in order to cross over to bigger investments for increased profit. Most of our clients began as new traders with a $10 deposit, and have developed into professional traders with thousands of dollars. And now you may do the same! More about Instaforex go to http://www.fx-megaforex.com/home1.htm

Crude Oil

The price of oil continues to broadcast signals pointing to a trend reversal after it reached its exact previous record high of around 114,75 dollars per barrel of oil.The weekly resistance situated around 115.07(R1) along with the accompanying negative deviation from the MACD indicator, increases the possibility for a new wave of reductions that is expected to lead the price of the "Black Gold" back towards support levels of around 108 dollars at the very least.

The small trend line that accompanied last week's increases can be used as a good trigger on which to base a short position in the event that the price breaks downwards. Closure beneath the level of 111.5 will be the signal for an entry with a price target situated close to the support level of 108.00 dollars. The STOP order can be placed just a little above the previous high at 115.70 dollars.

Have a wonderful day!



Smart solutions for your professional trading.