Oil Moves Sideways Above 127.2%
ICN.com | Aug 26, 2015 05:23AM ET
Oil moves sideways above 127.2% at 38.95 and below 39.80 as seen on the provided chart.
Assessing indicators, RSI14 moves sideways below 50.00 levels, while ADX shows unclear signal.
In result, we will stand aside over intraday basis, although the bearishness remains valid over short-term basis.
Over intraday basis, we should witness a breakout below 38.95 to re-new the bearish pressures.
Support: 38.95 – 38.35 – 37.70
Resistance: 39.80 – 40.50 – 40.85
Direction: Sideways
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