Crude Oil Technical Analysis and Trading Recommendations

Crude Oil Analysis: 

Analysis of crude oil for March 12, shows that the price continues downward movement and overcome the level of support S2- 100,10. Downward movement may continue with the objectives of S3- 98,16 and S4- 96,96, if the price remains below the level of 100.10. Upward correction may begin with the objectives of 102.03 and 103.23, if the price consolidates above 100.10. Rising trend line is no longer supporting the bankers on the increase, the price is below it, so now become relevant short positions. Awesome indicator shows the current downward movement since the last bar closed red. OsMA also turned down, indicating that the downward movement of the character and in the longer term. Rebound from 98.16 level could trigger a round of upward correction.

Trading recommendations: 

In the course of analyzing the movement in oil prices, we can conclude that it is now considered a warrant for sale with the aims of 98.16 and 96.96. Stop loss above exhibiting the nearest resistance level. When entering transactions in profitability in the black. If the price will bounce from 98.16, it may witness the beginning of the corrective movement, as well as turn up Awesome or OsMA (may expire). Long positions are not relevant now.