OIL Technical analysis 14 December 2018
2018-12-14 07:16 am | Resource: Technical Analysis | No Views : 202
Oil is moving in a sideway direction in the near term.
Oil is still facing resistance and selling pressure around levels of 52.66 - 54.54.
In view of the technical indicators
Both the RSI and Stochastic are indicating to weakness of the indicators.
Therefore, we expect that the oil will test the level of 50.00 dollar, which by breaking it down will target the levels of 48.50 - 47.50
The alternative scenario is that the oil retest levels of 52.66-54.50.
Resistance: 52.50 - 54.50 - 55.50
Support: 50.0 - 48.50 - 47.50
Gold prices fell on Friday as Wall Street rallied on expectations that the United States and China will finally resolve their trade dispute. Investors are also awaiting retail sales and industrial production results to be announced later today. Yesterday, Chinese customs said they would lift restrictions on imports of poultry meat from the United States and become effective immediately. The drop in gold prices came after White House economic adviser…
- Oil prices and Putin says OPEC + help stabilize oil markets 06:48 am2019-11-15
- Oil prices fall on Wednesday on new US-Chinese trade concerns 02:05 pm2019-11-13
- Gold rallied slightly after Trump's comments on interest rates and China 09:35 am2019-11-13
- Oil trades higher as investors await Trump speech on Tuesday 11:12 am2019-11-12
- Gold fell with the rise of the dollar and futures of US stocks 10:00 am2019-11-12
- Gold prices rise due to uncertainty in the China-US trade deal 12:08 pm2019-11-11
- Oil falls after the discovery of Iran's new field contains 53 billion barrels 08:10 am2019-11-11
- Gold prices are rising but heading for a weekly close on the red 09:52 am2019-11-08
- Oil prices fell during the last weekly sessions on Friday 07:48 am2019-11-08