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Monday, December 2, 2013

$WTIC - Nymex OiL - may not complete its present Bearish course & Fill the 86 Mark - Gap Likely to Remain

Daily Technicals Indicating a firm bearish trend in Place targeting 89.95 & only below that its 88.80 

This can also be termed as gap filling based on historical Pattern 

I will update a snapshot of the same - but 86 gap is something which has to remain pending in the greater good of markets in the long run to balance the whole price theory..

There is a lot more in technicals if we see in broader perspective - as monthly indicators have cracked the support channel @ the same time there are other indicators which is giving support - the tape tells a different story - that i will explain in the Chart in a while along with levels and screen shots 

Current resistance @ 94 till then 

If opens lower before testing 94 then  it is most likely to bounce back from 90.82 - 89.92

Now @ 92.78

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