Oil Morning Technical Report 1/10/2015
ecPulse
2015-10-01 11:01AM UTC
Oil succeeded in stabilizing above moving averages 20 and 50 after bouncing from 38.2% Fibonacci level seen on the graph above 44.85.
Stability above 44.85 argues us to be bullish, as trading above moving averages will bring a test of 46.55, and breaching this level will ease the path towards 47.00.
On the downside, coming below 44.85 will negate the awaited bullishness
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