Tuesday, 4 February 2014

Technical analysis of Crude for February 05, 2014 Trend News

The recent high 98.6 has been acting as the reversal point to the lower levels. In the H4 chart, Stochastic gave a sell signal, where the RSI was still in buy mode. Today, the price is trading above 21DEMA, cmp 97.83 and is standing above yesterday's high, which is a bull factor. But if we go through the hourly chart, we can see oscillators giving a sell signal. The price is trading near resistance zones.


Support: 97, 96.3


Resistance: 98, 98.6


Recommendation- sell for the targets $91, 87 and 85.


clh1.pngclh4.pngThe material has been provided by InstaForex Company - www.instaforex.com



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