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Oil Analysis 1 ,may 2015

Source: ACFX Forex Broker

 

The intraday technical outlook

Thursday Oil continued to trade higher.

I am this morning monitoring the price action for a test of the 60.00 level

Alternatively a failure to sustain higher prices could see Oil test the 59.00 support level.

From a technical perspective Oil is trading in an intraday 1 hour up trend with the line of control at the 58.50 level.

Oil Chart

oil chart 2015

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