Crude Oil analysis 24-09-13

After few days of downtrend, Crude Oil start giving some uptrend signals in short term charts like 4H.

There are two strong Support levels 102.60 and 103.20, this area also contain a strong demand zone (where buyers become active) which is holding #CL since 3 days at the same level.

Buying Signals in 4H chart are

1) Bullish Divergence in Stochastic and Ultimate Oscilator.
2) Strong demand zone of price activity in 4H and Daily charts
3) Bullish Butterfly Pattern

Suggestion:
Buy b/w: 103.00 to 103.30
TP: 1st, 104.80 2nd, 105.30
SL: 102.30

I will keep updating about crude oil moves on daily basis so stay tuned.

Thank you