Nothing much to say about crude oil. It is simply a self-fulfilling prophecy. The Aug monthly candle looks bullish. And the inverted head and shoulder breakout seem to be materializing soon. However, it is still at around mid of BB so it gona take some time. Perhaps the OPEC meeting could be the catalyst.
In the weekly, the morning start candle formation give rise to more green candle. It is near the neckline of the inverse H&S so it is tricky to trade near there. Whatever it is oil is breaking up sooner or later.
Daily support/resistance on 29th Aug: 47.7, 47.43
Weekly support/resistance from 29th Aug - 2nd Sept: 47.75, 47.44
Monthly support/resistance for Aug: 42.57, 44.96, 42.69, 45.3
In the weekly, the morning start candle formation give rise to more green candle. It is near the neckline of the inverse H&S so it is tricky to trade near there. Whatever it is oil is breaking up sooner or later.
Daily support/resistance on 29th Aug: 47.7, 47.43
Weekly support/resistance from 29th Aug - 2nd Sept: 47.75, 47.44
Monthly support/resistance for Aug: 42.57, 44.96, 42.69, 45.3
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