CRUDE OIL Retains Its Bullish Offensive Short Term

January 11, 2019

By FXTechstrategy Team

CRUDE OIL retains its bullish offensive short term as it looks for more strength. Support lies at the 52.00 level where a break will expose the 51.50 level. A cut through here will set the stage for a run at the 51.00 level. Further down, support comes in at the 50.50 level. On the upside, resistance resides at the 53.00 level. Further out, resistance comes in at the 53.50 level. A break above here will aim at the 54.00 level and then the 54.50 level followed by the 55.00 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, CRUDE OIL remains biased to the upside in the short term

This is an excerpt from our 10-currency daily analysis and trade alerts with buy/sell entries, stoplosses and profit targets…Click Here To Get Started

 


Get our Weekly Commitment of Traders Report: - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.




Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter