NYMEX crude oil Witnessing selling pressure from 20 DMA - updated for 29th December 2015, Tuesday.

NYMEX CRUDE OIL

NYMEX crude oil witnessing selling pressure from 20 DMA this indicates bears will be favored as long as crude oil holds below.

From last 2 times Crude witnessing selling pressure from 20 DMA as long as it stays below bears will be in action.

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CRUDE OIL US Technical Analysis Chart Trend Forecast Trading signals Graph Tips Strategies Recommendations- CRUDE OIL facing strong support at current levels, selling expecting once it closes below 96.50. (Updated for 11th August 2014, Monday).

US CRUDE OIL NYMEX

• CRUDE OIL is facing strong trend line support at current levels, close watch chart indicates Crude Oil must trades above its trend line support to favor bulls. But once Crude Oil closes below 96.50 and stays below then further weakness is expecting.
• Intraday close watch once Crude Oil starts trading below 96.50, If stays below then intraday weakness is expecting.
• Suuggested Reading - MCX CRUDE OIL also indicating weakness if closes below 5933.
• Chart also indicates Nymex Crude is moving in a down channel formation, as long it trades in between its formation it will favor bears, and sharp move is expecting when it comes out from its down channel.
• If Nymex Crude falls further then will find next strong support around 95.50 (161.8%  fibonacci retracement) and if close and stays below 95.50 then next strong support around 91.50 (trend line) as shown above in graph no 3.
• Click here to see all the forecast (trading strategy) published by us on CRUDE OIL.
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NYMEX CRUDE OIL Trading Tips - CRUDE OIL moving up from strong trend line support, further up move is expecting as per Technical Analysis charts. (Updated On 17th July 2014, Thursday).

• As per previous report on NYMEX CRUDE OIL - (CO ) failed to took support of 100.22 and fell down to its next support level around 99. (Click here to view previous report on CRUDE OIL).
• Now technical chart indicates CRUDE OIL moving up from strong trend line support zone and also trading above 200 days moving average, this will favor bulls to take price further up.
• If failed to take this trend line support and fells down then will face next support zone around 97.50.
• Daily chart also indicates Crude oil`s RSI was trading below 30pts , indicating over sold, which has now move up.
• If Crude Oil moves up from current levels then will find strong fibonacci retracement resistance around 102.50, 103.50 & 104.50. 

NYMEX CRUDE OIL Technical Analysis - CRUDE Oil facing strong support at current levels, and also entered in oversold zone. (Updated On 15th July 2014, Tuesday).

• NYMEX CRUDE OIL is facing strong trend line and 200 days moving average support at current levels, which indicates Crude oil can move up from current levels as we have witnessed strong selling from 108 levels.
• Daily chart also indicates Crude is now entered in oversold zone which indicates Crude can bounce back from current levels, its a sign of caution for bears.
• Daily chart indicates if Crude oil moves up from current levels then on upper side will find strong fibonacci retracement resistance around 102, 103, 104 & 105. Close Watch.