Crude oil: Mathematical analysis with Murray lines for January 10, 2013
January 10, 2014 6:15 am
Daily chart
After having reached a minimum of 91.24 during the session on Thursday, crude oil was very close to the end near the minimum of eight months. However, not having found sufficient support, the price was quoted over 92.00 dollars a barrel.
Having closed in this way, the CL has left a long wick below 92.19.
However, to be the line 3/8 the basis of its trading range, it is possible to expect a rebound above these levels, although there is also the possibility that prices will continue falling. At the close of the meeting of this last day we will have a clearer picture.
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4-hour chart
The 4-hour chart shows the Crude oil is trading at the bottom line of its trend channel; its first weekly support is found at 91.91.
Considering that the downward pressure still prevails we might well expect that the CL still continue to fall below its weekly support. However, to observe the 2 candles large, bearish and bullish, we have a U-turn what we would be indicating a possible bullish rebound above the rate of 92.00.
Therefore, our tip for today is to enter buying above the S-1 with a maximum risk of about 70 pips.
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1-hour chart
Finally in the 1-hour chart we have what seems to be a valley, then the last minimum reached during the last 8 hours of the day Thursday.
On the other hand, the price is trading at the limit of its trend channel and very close to its moving average of 200, which shows us a high probability that the prices of the CL upward bounce off again until at least the 95.00 dollars per barrel as a prime objective.
For that reason, as already mentioned above, our suggestion is to buy above the rate of 92.00 with a chance to win 200 pips in this operation. Not forgetting of course our stop loss to about 60 pips.
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If you have any questions or suggestions, please contact me:
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
Daily chart
After having reached a minimum of 91.24 during the session on Thursday, crude oil was very close to the end near the minimum of eight months. However, not having found sufficient support, the price was quoted over 92.00 dollars a barrel.
Having closed in this way, the CL has left a long wick below 92.19.
However, to be the line 3/8 the basis of its trading range, it is possible to expect a rebound above these levels, although there is also the possibility that prices will continue falling. At the close of the meeting of this last day we will have a clearer picture.
В В
4-hour chart
The 4-hour chart shows the Crude oil is trading at the bottom line of its trend channel; its first weekly support is found at 91.91.
Considering that the downward pressure still prevails we might well expect that the CL still continue to fall below its weekly support. However, to observe the 2 candles large, bearish and bullish, we have a U-turn what we would be indicating a possible bullish rebound above the rate of 92.00.
Therefore, our tip for today is to enter buying above the S-1 with a maximum risk of about 70 pips.
В В
1-hour chart
Finally in the 1-hour chart we have what seems to be a valley, then the last minimum reached during the last 8 hours of the day Thursday.
On the other hand, the price is trading at the limit of its trend channel and very close to its moving average of 200, which shows us a high probability that the prices of the CL upward bounce off again until at least the 95.00 dollars per barrel as a prime objective.
For that reason, as already mentioned above, our suggestion is to buy above the rate of 92.00 with a chance to win 200 pips in this operation. Not forgetting of course our stop loss to about 60 pips.
В В
If you have any questions or suggestions, please contact me:
Email:В [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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