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Oil holds 100 day MA and falls lower. USDCAD hold 100 day MA and rises

Discussion in 'Technical Analysis' started by ForexLive, Oct 12, 2015.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
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    Price peaked at $50.92 on Friday. USDCAD holds 100 day MA at Oil has been on a slow climb in the near term that took the price to a high of 50.92 on Friday. That peak got close to the 100 day MA (blue line in the chart below) which today is at the $51.18 level. The price of the Crude oil futures has not been above the 100 day MA since early July (see blue line in the chart below). The 50% of the move down from the May high at 65.03 comes in at $51.77. This too should put a lid on the upside.

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