10.09.201407:39 Forex Analysis & Reviews: Intraday trading recommendations on Crude for September 10 , 2014

Long-term review

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The crude oil prices have been rejected from 20Dsma 4 days in a row. Finally, crude oil hit the previous lows. The prices has support at 91.30; breaking below it leads to another leg down towards 90,89.50 and even 88. On the upside, 94.50 (20Dsma) is acting as strong resistance. Until the price closes above 94.50, selling on every up move will mint the money. For an intraday session, the prices are facing strong resistance at 12ema and 35DEMA. For 10 hours, the prices are facing resistance at the 93.35 and 93.70 levels.

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