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OIL Technical analysis 14 September 2018

2018-09-14 07:27 am | Resource: Technical Analysis | No Views : 58

Time frame Used - four hours
Oil is moving in a sideway  direction in the near term
The selling force managed to control the movement of oil to drop to level of 68.52 again
  In view of the technical indicators
Both the RSI and the Stochastic are indicating the arrival of indicators to the oversold area
Accordingly, we expect that the oil will test level of  69.53
The alternative scenario is that oil drop to level of  67.33
Resistance: 69.53 - 70.42 - 71.44
Support: 68.52 - 67.33 - 66.09
Direction: sideway
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