Crude oil traded sideways for the week, with weekly candle as spinning top in other chart. The 2 weekly candles seems to form a bullish tweezers pattern which need confirmation in the next few weeks.
Price may be trying to re-enter the ascending channel. The resistance and support is highlighted below.
In the monthly chart, it remains to be seen if April candle will be the same as on the left (the pattern that I mentioned in the previous few posts)
Daily support/resistance on 27th Mar: 48.05, 47.87
Weekly support/resistance from 27th Mar - 31st Mar : 48.18 , 48.25
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
Price may be trying to re-enter the ascending channel. The resistance and support is highlighted below.
In the monthly chart, it remains to be seen if April candle will be the same as on the left (the pattern that I mentioned in the previous few posts)
Daily support/resistance on 27th Mar: 48.05, 47.87
Weekly support/resistance from 27th Mar - 31st Mar : 48.18 , 48.25
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
Crude oil trading profit better opportunity to earn profit due to its unique identity in economic system.to earn in crude oil you must have to learn how to earn easily through commodity trading and what are the strategies useful in crude oil trading.
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