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| Technical Outlook For Oil 20-8-2015 |
Crude Oil moved yesterday in the average movement of 226 cent, its highest level at 42.66 and the lowest price at 40.40 and closed at 40.51 to lose 188 cent during yesterday’s trading according to the economic data.
Oil opened today's trading at 42.39 volatile between 40.75 and 40.42 during the Asian session trading at 33 cent for the poor liquidity in the market range.Oil moves in a series of down impulse waves inside channel.
It is expected that the oil is heading targeting 39.99 as the target on time frame of four hours, and until now we see the bears control on market direction.
And the Relative Strength Indicator "RSI" show us distribution operations at the market.
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