Forex | Forex | Oil Trading Analysis (18/08/2009 08:12:47)

Oil Trading Analysis

Yesterday's price action on the daily oil prices chart was interesting for a number of reasons: first the candle created was a "hammer" with a deep lower wick and small body, suggesting that  the oil bulls overcame the bears in yesterday's oil trading session thereby helping to prevent a further decline in oil prices.  Next the close of the oil trading session found support from the 40 day moving average and as a result this combination of technical factors suggests that we should

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