Crude oil: Mathematical analysis with Murray Lines for November 25, 2013
November 25, 2013 2:30 pm
Weekly chart
Crude Oil fell back below 93.75 last Saturday after the agreement between Iran and the U.S., along with other permanent members of the Security Council of the UN, and Germany was announced, and which run for six months and includes a halt to Iran’s efforts to improve its ability to enrich uranium and allow greater monitoring of its nuclear program. The deal, announced on Saturday, did not include any easing of sanctions on Iran’s sales of crude oil, although some analysts had said would probably be held again until a long-term agreement is reached. So in the weekly chart we can see that Crude Oil is below its weekly pivot and below 7/8 and crossed the bottom line of its trend channel with a likely short-term goal in 92.97.
Daily chart
Elsewhere on the daily chart we see that Crude Oil opened a market gap of about 60 pips below the previous close and at this point lies below the 2/8 (red line) with a likely target in the medium term in 90.63, where the line eighth (yellow line) is located. Although both the oscillator and the oscillator strength of trend are showing signs of decline and possible consolidation around these areas could well be in 90.63.
4-hour chart
Finally, on the 4-hour chart Crude Oil is also currently below the line 0/8 (blue line) and sustained only by a slight uptrend line. It would probably end up being breached in the next hours with a chance of scoring a new low in the line – 2/8 which would be its last line of support in this time frame. On the other hand, it could also be supported in line -1/8 (purple line) and that it has acted as the basis of its trading range since November 5, which is therefore very likely to observe a change in direction from these levels.
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
Crude Oil fell back below 93.75 last Saturday after the agreement between Iran and the U.S., along with other permanent members of the Security Council of the UN, and Germany was announced, and which run for six months and includes a halt to Iran’s efforts to improve its ability to enrich uranium and allow greater monitoring of its nuclear program.
The deal, announced on Saturday, did not include any easing of sanctions on Iran’s sales of crude oil, although some analysts had said would probably be held again until a long-term agreement is reached.
So in the weekly chart we can see that Crude Oil is below its weekly pivot and below 7/8 and crossed the bottom line of its trend channel with a likely short-term goal in 92.97.
Daily chart
Elsewhere on the daily chart we see that Crude Oil opened a market gap of about 60 pips below the previous close and at this point lies below the 2/8 (red line) with a likely target in the medium term in 90.63, where the line eighth (yellow line) is located.
Although both the oscillator and the oscillator strength of trend are showing signs of decline and possible consolidation around these areas could well be in 90.63.
4-hour chart
Finally, on the 4-hour chart Crude Oil is also currently below the line 0/8 (blue line) and sustained only by a slight uptrend line. It would probably end up being breached in the next hours with a chance of scoring a new low in the line – 2/8 which would be its last line of support in this time frame. On the other hand, it could also be supported in line -1/8 (purple line) and that it has acted as the basis of its trading range since November 5, which is therefore very likely to observe a change in direction from these levels.
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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