| Demand outlook | ||||||||
| china imports more | ||||||||
| ukraine conflict | ||||||||
| US oil export ban | ||||||||
| OPEC - forecast - increase in demand in second half ,will produce more to meet requirements. | ||||||||
| Price | ||||||||
| Reports say that OPEC and other Oil producing countries require price of 100 $ | ||||||||
| Price movement | ||||||||
| 99.35 -100.03 - I see long build up | ||||||||
| one daily big candle, followed by another high volume | ||||||||
| candle which prevented the shorts,keeping price above 100 | ||||||||
| 101.28 : FIB 50% provided support when the price ran to 102.60 | ||||||||
| effectively controlled the shorts | ||||||||
| 101.28 -101.85 -I see price consolidates and stay above 101.85 | ||||||||
| price movement strength | ||||||||
| crude oil strongly resisted at 2.5% of its every upmove | ||||||||
| 97.50 is strong base. | ||||||||
| oscillated near 100 | ||||||||
| touched 102.50 ,but managed to stay above 101.50 | ||||||||
Sunday 18 May 2014
Insight
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