Oil Morning Technical Report 25/11/2015
ecPulse
2015-11-25 12:30PM UTC
Oil stabilized above SMA20 and SMA50, supported by the bullish harmonic along with the positivity on ADX.
In the interim, RSI moves above 50.00; therefore, we believe that, the bullish effect of the harmonic structure will continue, targeting 45.35 later after 44.40 where 50% and 61.8% Fibonacci exist.
On the downside, coming below 41.40 will weaken bullish chances and preferable 42.30.
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