InstaForex - Analytics

    InstaForex

    739.75 6.25/10
    62% of positive reviews
    Real

    Technical analysis of Crude for August 31, 2015


    Show full picture

    Technical outlook and chart setups:

    WTI Crude has bounced off smartly from last week's lows around $38.00 and is trading above $44.00 at the moment. Crude might formed an important low last week, and could be on its way up, towards $60-70 from here on. It is hence recommended to initiate long positions now and also look to add around $40.50/41.00 with risk below the levels of $38.00. Immediate support is seen at $38.00 followed by $37.00, $30.00, and lower, while resistance is seen at $60.00/70.00, and higher.

    Trading recommendations:

    Initiate long positions now, stop is at $37.00, a target is open.

    Good luck!


    To leave a comment you must or Join us


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree