Crude oil: Mathematical Analysis with Murray Lines for January 22, 2014
January 22, 2014 5:45 am
Daily chart
After several days of indecision Crude Oil finally was picking up Tuesday with a large candle of decision. Although it was not sufficient to break the top line of its trading range as the 5/8 (green line), however, it shows us that the force is on the side of buyers. Therefore, we can expect that the following days continue with their upward trend and take buying positions above 95.31, with goals of at least 160 pips until its next resistance at 96.88.
4-hour chart
The price is drilling its housing price for the top area, which gives us indications that the bulls seem to regain control.
Although at this time Crude Oil is encountering resistance at the 5/8 line (green line) and this can make it back a little, despite the accumulation of candles that exists in the area of range which he departed the price, it will be a support area to take into account.
1-hour chart
Finally in the 1-hour chart Crude oil is on the verge of the top line of the channel of trend and although we can expect a slight setback in the next few hours, the more likely it is that during the American session prices will continue to climb, but if the price again enters below the bracket which broke after their promotion makes it about 4 hours, this panorama is invalidated and the best thing would be leaving our buying positions.
If you have any questions or suggestions, please contact me right through:
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 several days of indecision Crude Oil finally was picking up Tuesday with a large candle of decision. Although it was not sufficient to break the top line of its trading range as the 5/8 (green line), however, it shows us that the force is on the side of buyers. Therefore, we can expect that the following days continue with their upward trend and take buying positions above 95.31, with goals of at least 160 pips until its next resistance at 96.88.
4-hour chart
Although at this time Crude Oil is encountering resistance at the 5/8 line (green line) and this can make it back a little, despite the accumulation of candles that exists in the area of range which he departed the price, it will be a support area to take into account.
1-hour chart
Finally in the 1-hour chart Crude oil is on the verge of the top line of the channel of trend and although we can expect a slight setback in the next few hours, the more likely it is that during the American session prices will continue to climb, but if the price again enters below the bracket which broke after their promotion makes it about 4 hours, this panorama is invalidated and the best thing would be leaving our buying positions.
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
Related Posts: