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| Technical Outlook for Oil 17-6-2015 |
Oil moved yesterday in the average movement of 94 cents, its highest level at 60.35 and the lowest price at 59.40 and closed at 59.99 to Gain 41 cents according to positive of building permits from USA.
Oil opened today's trading Volatile between 59.95 and 60.19 in trading range 24 pips during the Asian session trading, and in the European session the oil went up to 60.75
Oil moves in a series of up Impulse waves after breaking the continually price form.
And we saw the oil is trading close to our target at 60.90
It is expected that the oil is heading targeting 61.50 as the target on time frame of four hours and till now we see the Bulls control on market direction
And the Relative Strength Indicator "RSI" show us accumulation operations at the market
Today we could see sharp trading because of the the economic data from USA
Support levels: 59.47 and 58.96 and 58.52
Resistance levels: 60.42 and 60.86 and 61.37
For more Technical Outlook Fxstations
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