Unrest in Libya has started to hit oil price globally as well as economically. In last few days oil has touched its high in the market.
A barrel of oil cost $91 dollars 67 cents on December 17, 2010, when a Tunisian protester set himself on fire, sparking a wave of discontent.
On January 25, there was a small decline in oil prices to $95.35 per barrel. This was the time when thousands of protesters in Egypt had called for President Hosni Mubarak to step down.
Oil prices surged again to $101.11 as the Egyptian president resigned on February 11. Oil prices increased to $104.01 per barrel on Feb 17 as protests spread to Bahrain, Yemen and Libya.
Several cities in Libya have fallen into rebel hands after residents rose up in protests, backed by mutinous army units aSUPPORT & RESISTANCEnd drove out Gaddaffi loyalists.
CRUDE OIL PRICES TODAY 4th March
The Crudeoil is in perfect uptrend .Currently Crudeoil is in strong uptrend and the trend is supported with good volume The open interest is not increasing with trend .. The oscillator is showing BUY signal For short term The current position is BUY.
INTRADAY TREND
Buy is advised above 4639.2 with a stop at 4493.5 Below 4451.1 go for sell
SUPPORT & RESISTANCE
Support for the Crudeoil is 4378-4207-4136-4109-4078-4003-. Immediate resistance for Crudeoil is 4655.
A barrel of oil cost $91 dollars 67 cents on December 17, 2010, when a Tunisian protester set himself on fire, sparking a wave of discontent.
On January 25, there was a small decline in oil prices to $95.35 per barrel. This was the time when thousands of protesters in Egypt had called for President Hosni Mubarak to step down.
Oil prices surged again to $101.11 as the Egyptian president resigned on February 11. Oil prices increased to $104.01 per barrel on Feb 17 as protests spread to Bahrain, Yemen and Libya.
Several cities in Libya have fallen into rebel hands after residents rose up in protests, backed by mutinous army units aSUPPORT & RESISTANCEnd drove out Gaddaffi loyalists.
CRUDE OIL PRICES TODAY 4th March
The Crudeoil is in perfect uptrend .Currently Crudeoil is in strong uptrend and the trend is supported with good volume The open interest is not increasing with trend .. The oscillator is showing BUY signal For short term The current position is BUY.
INTRADAY TREND
Buy is advised above 4639.2 with a stop at 4493.5 Below 4451.1 go for sell
SUPPORT & RESISTANCE
Support for the Crudeoil is 4378-4207-4136-4109-4078-4003-. Immediate resistance for Crudeoil is 4655.
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