Crude Oil Next Week Outlook - bearish ranging within key levels for direction
16 October 2015, 09:11
0
908
W1 price is located below 200 period SMA and below 100 period SMA for the primary bearish with the ranging within 69.57 key resistance level and 42.18 key support level:
If the price will break support level at 42.18 so the bearish market condition will be continuing.
If the price will break resistance level at 69.57
from below to above so secondary rally within the primary bearish will
be started with the good possibility to the bullish reversal of the
price movement.
If not so the price will be ranging between the levels.
| Resistance | Support |
|---|---|
| 54.27 | 46.22 |
| 69.57 | 42.18 |
Trend:
