Fractal analysis
Gerardo Porras
CRUDE OIL
Yesterday, crude oil futures to record its maximum 88.09 dollars a barrel after the dollar dropped to 74.80 on 04 October, more than 1200 pips in the last 15 days.
it is currently trading at 86.30.
Technically, a return to maximum of 88, dollars could give a good entry opportunity to sell the black gold with an objective to support zone of 81.50, however a close below 85.50 would trigger the fall of the price of oil, that would take its correctness to the level of 81.50
On the other hand, the indicator MACD is showing signs of a deeper correction.
http://instaforex.com/forex_analysis/41807/?x=OUE
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