Monday, October 8, 2012
ANALYSIS OF CRUDE OIL
ANALYSIS OF CRUDE OIL
EUR / USD, GBP / USD, USD / JPY and
Gold intra-day decline as the instruments undoubtedly contributed to the decline in crude oil prices. During the day started at 89.83 Crude oil prices fell as low as 88.20 motion-seller now has movement at the level of 88.44. When we look at the 38.2% Fibonacci correction point 88.15 Technical support and this support is important in case of breakage point of sales pressure crude oil prices to the level of 84.09 Fibonacci 23.6% correction point we can say that the possibility of recession. However, if you can not break the support of 88.15 during the day, crude oil prices will continue throughout the day, such as the upward movement of the day with the most important point can be observed to rise towards 90.00 resistance. For this reason, the following 88.15, while above 90.00 levels is important.
Resistance Point: 89,10-90,00-91,10 Support Point: 88,15-87,69-87,00 Pivot: 90.00
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