Crude oil still trading around the neckline. It has been consolidating for many weeks.
Daily support/resistance on 6th Mar: 53.12, 52.97
Weekly support/resistance from 6th Mar - 10th Mar : 53.33, 53.58
Monthly support/resistance for Mar: 53.71, 53.13 (CLJ7: 53.82, 53.45, CLK7: 54.27, 53.93)
Monthly support/resistance for Feb: 52.98, 52.86 (CLH7: 53.16, 53.89' CLJ7: 53.86, 54.67)
2017 Yearly support/resistance: 49.35, 40.28
In the daily TF, price is supported by the ichimoku cloud and near the bottom of the BB. It is still testing the neckline. There is a possibily that price might test the lower trendline of the ascending channel. But Friday candlestick looks bullish. A bounce may be eminent, pending confirmation.
Daily support/resistance on 6th Mar: 53.12, 52.97
Weekly support/resistance from 6th Mar - 10th Mar : 53.33, 53.58
Monthly support/resistance for Mar: 53.71, 53.13 (CLJ7: 53.82, 53.45, CLK7: 54.27, 53.93)
Monthly support/resistance for Feb: 52.98, 52.86 (CLH7: 53.16, 53.89' CLJ7: 53.86, 54.67)
2017 Yearly support/resistance: 49.35, 40.28
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