As mentioned in past post, March would be bearish if it breaks 50.71. The same pattern that recurred this month. (see past post below)
The price broke below the neckline of the IHS strongly signaling bearishness.
Below are the critical support for uptrend to continue.
Daily support/resistance on 13th Mar: 49.21, 48.66
Weekly support/resistance from 13th Mar - 17th Mar : 51.06, 49.28
Monthly support/resistance for Mar: 53.71, 53.13 (CLJ7: 53.82, 53.45, CLK7: 54.27, 53.93)
2017 Yearly support/resistance: 49.35, 40.28
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| http://tachartreading.blogspot.com/2017/02/crude-oil-trading-weekends-post-for_25.html |
Below are the critical support for uptrend to continue.
Daily support/resistance on 13th Mar: 49.21, 48.66
Weekly support/resistance from 13th Mar - 17th Mar : 51.06, 49.28
Monthly support/resistance for Mar: 53.71, 53.13 (CLJ7: 53.82, 53.45, CLK7: 54.27, 53.93)
2017 Yearly support/resistance: 49.35, 40.28
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