General overview for 27/07/2015: The unsmooth oil prices are inward spend upwards over again afterward making an of import come about at the grade of 62.55 (wave four pink). The electrical flow impulsive moving ridge progression is nonetheless uncompleted, simply the underlying bullish departure betwixt the moving ridge (iii) together with (iv) dark-green mightiness boundary the autumn downwardly to the grade of 46.21. Nevertheless, the bias is nonetheless bearish together with lower prices of unsmooth oil are expected inward the longer - term.
Moreover, the are telephone substitution indicators that are affecting electrical flow unsmooth oil cost decline:
- USA - IRAN nuclear deal
- Kingdom of Saudi Arabia oversupplied oil market
- increasing publish of oil rigs inward USA (Baker Hughes Inc)
Read more:
https://www.instaforex.com/forex_analysis/63843/ Support/Resistance: 53.94 - WR3
52.61 - WR2
50.06 - WR1
48.86 - Weekly Pivot
46.21 - WS1
45.02 - WS2
Trading recommendations: Swingtraders should regard to opened upwards sell orders from the sell zone expanse betwixt the levels of 48.86 - 50.06 amongst SL at the grade of 54.21 together with TP at the grade of 34.00.
Daytraders should regard to opened upwards sell orders from electrical flow cost levels amongst SL inward a higher house the grade of 48.90 together with TP at the grade of 46.21 (min.)
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