Crude oil – Mathematical analysis with Murray Lines for September 30, 2013
September 30, 2013 4:15 pm
Weekly chart
On the weekly chart, after opening a market gap crude oil shows a downward trend that probably will continue until the level of $100 a barrel. On the one hand, we have to take into account that so far today negotiations breached previous support that was around 102.00 level and both the oscillator and the oscillator strength of trend show no sign of decline yet below $100 with the likely goal line 7/8 (yellow line) Murrey.
Daily chart
On 1-day chart crude oil is currently trading at 101.34 below the line eighth (yellow line) which is considered a weak support line and a likely target in the coming hours $100.00, the line is located 0/8 in this time frame, it would become an important support, one should also take into account the psychological level that this area represents. Moreover, if we consider its trading band observe that for several days the price is moving below the neutral line located at 103.70 and the next likely target would be 99.12.
30-minute chart
The 30-minute chart we can see that crude oil has been trading since opening in your area weekly range for this period of time between line 5/8 and 3/8 of the Murrey Math line. The fact that at this time the price is below the line 4/8 (blue line) considered a key support shows that crude oil will continue its descent to find a support line 0/8, which is located at the level of $100.00. Conversely, a rebound that crosses line of 5/8 (green line) located at 101.95 would signal a more pronounced rebound until at least 103.13.
Our recommendation: Based on the analysis of the 3 charts, our tip for today:
Sell below: 101.56
Stop loss at: 102.30
Take profit at: 100.00
For minimum risk of handling 2 to 1
If you have any questions or suggestions, please contact me right through: Email:[email protected]
DISCLAIMER No information published constitutes a solicitation, offer, or recommendation, to buy or sell any investment instrument, to effect any transactions, or to conclude any legal act, whatever its nature. The information published and opinions expressed are provided on an only for information only and is subject to change without notice, delimiting the company responsibility for decisions originating from the same, and they cause any kind of profit, loss or damage.
The material has been provided by InstaForex Company – www.instaforex.com
Weekly chart
On the weekly chart, after opening a market gap crude oil shows a downward trend that probably will continue until the level of $100 a barrel. On the one hand, we have to take into account that so far today negotiations breached previous support that was around 102.00 level and both the oscillator and the oscillator strength of trend show no sign of decline yet below $100 with the likely goal line 7/8 (yellow line) Murrey.
Daily chart
On 1-day chart crude oil is currently trading at 101.34 below the line eighth (yellow line) which is considered a weak support line and a likely target in the coming hours $100.00, the line is located 0/8 in this time frame, it would become an important support, one should also take into account the psychological level that this area represents. Moreover, if we consider its trading band observe that for several days the price is moving below the neutral line located at 103.70 and the next likely target would be 99.12.
30-minute chart
The 30-minute chart we can see that crude oil has been trading since opening in your area weekly range for this period of time between line 5/8 and 3/8 of the Murrey Math line. The fact that at this time the price is below the line 4/8 (blue line) considered a key support shows that crude oil will continue its descent to find a support line 0/8, which is located at the level of $100.00. Conversely, a rebound that crosses line of 5/8 (green line) located at 101.95 would signal a more pronounced rebound until at least 103.13.
Our recommendation: Based on the analysis of the 3 charts, our tip for today:
Sell below: 101.56
Stop loss at: 102.30
Take profit at: 100.00
For minimum risk of handling 2 to 1
If you have any questions or suggestions, please contact me right through: Email:[email protected]
DISCLAIMER No information published constitutes a solicitation, offer, or recommendation, to buy or sell any investment instrument, to effect any transactions, or to conclude any legal act, whatever its nature. The information published and opinions expressed are provided on an only for information only and is subject to change without notice, delimiting the company responsibility for decisions originating from the same, and they cause any kind of profit, loss or damage.
The material has been provided by InstaForex Company – www.instaforex.com
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