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brownsfan019

Trading Oil and Gold

By brownsfan019, in The Candlestick Corner

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tradelab    10

tradelab
Posted

Oil prices are showing a clear bullish bias since yesterday breaching 50.00 and stabilizing above it, and MACD is almost providing a positive signal that could push the price further to the upside. But we need to be on the sidelines temporarily to monitor the pair at the support 50.00 and resistance 52.00, whereas breaking this support brings the price back to the downside, while breaching the resistance pushes the price further to the upside towards 55.55.

 

Support: 51.60, 50.80, 50.00, 49.00, 47.95

Resistance: 52.00, 52.40, 53.00, 53.80, 54.25

 

Recommendation Positive expectations above 52.00, risk-limit below 50.00. Negative below 50.00, risk-limit above 52.00.

 

 

http://www.oilngold.com/images/stories/contributors/ecpulse/2015020621.gif

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