Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View More
Crude Oil Technical Analysis: Prices Set New Six-Month Low

Crude Oil Technical Analysis: Prices Set New Six-Month Low

Ilya Spivak,

Talking Points:

  • Support: 48.54, 45.11, 41.68
  • Resistance: 50.66, 52.37, 54.08
  • Visit our crude oil page for more

Crude oil is attempting to renew its downward push, with prices slipping below the $50/barrel mark anew to set another six-month low. Near-term support is at 48.54, the 76.4% Fibonacci expansion, with a break below that on a daily closing basis exposing the 100% level at 45.11. Alternatively, a turn above the 61.8% Fib at 50.66clears the way for a challenge of the 50% expansion at 52.37.

KEY UPCOMING EVENT RISK:

07 AUG 2015, 12:30 GMT – US Change in Nonfarm Payrolls (JUL) – Expected: 225K, Prev: 223K

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

To receive Ilya's analysis directly via email, please SIGN UP HERE

Contact and follow Ilya on Twitter: @IlyaSpivak

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES