Crude Oil Weekly Technical Report 27-31/10/2014
ecPulse
2014-10-27 07:32AM UTC
Crude oil is still within a tight range and stable below the support of the descending channel. Hence, the negative pressure is still ongoing keeping the downside move favored in the coming period targeting 80.00 then 78.00. The positivity of MACD and RSI could lead to further sideways trading till the price gets a negative catalyst that support the bearish extension which require stability below 82.10.
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