Crude Oil has a bullish week partly due to US airstrike against Syria, and tension between North Korea and US. It is quite possible the upper channel could be hit in the next few weeks or in a couple of months time.
I am watching if price will hold above the neckline of the inverse HS. If it does, it could stuck in the previous tight range for a while before heading higher.
From the monthly TF, if price could hold inside the ascending channel in April, we could see price heading to the upper channel trend line in the next couple of months!
Daily support/resistance on 10th Apr: 52.27, 52.22
Weekly support/resistance from 10th Apr - 14th Apr: 52, 51.41
Monthly support/resistance for Apr: 50.81, 50.73 (CLK7: 50.88, 50.93, CLM7: 51.31, 51.38)
Monthly support/resistance for Mar: 53.71, 53.13 (CLK7: 54.27, 53.93)
2017 Yearly support/resistance: 49.35, 40.28
I am watching if price will hold above the neckline of the inverse HS. If it does, it could stuck in the previous tight range for a while before heading higher.
From the monthly TF, if price could hold inside the ascending channel in April, we could see price heading to the upper channel trend line in the next couple of months!
Daily support/resistance on 10th Apr: 52.27, 52.22
Weekly support/resistance from 10th Apr - 14th Apr: 52, 51.41
Monthly support/resistance for Apr: 50.81, 50.73 (CLK7: 50.88, 50.93, CLM7: 51.31, 51.38)
Monthly support/resistance for Mar: 53.71, 53.13 (CLK7: 54.27, 53.93)
2017 Yearly support/resistance: 49.35, 40.28
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