Crude Oil Weekly Technical Report 26-30/1/2015
ecPulse
2015-01-26 07:57AM UTC
Crude oil dropped and is pressuring the bottom recorded in the middle of this month, as the price is trading within a descending channel that support extending the bearish bias in the coming period. Therefore, we prefer the negative trading over intraday basis targeting next 42.20, as Linear Regression Indicators support this downside move and will remain valid unless the price breaches 49.00.
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