Crude oil is bullish this week. We can see it is have inside bar. It is possible to have double inside bar considering opec meeting is 2 weeks from now.
Below is the possible moement. Friday is a doji. We should have a small trend this week.
On the monthly TF, price is bouncing nicely from the mid of BB. We need end of May to confirm. Oil is bullish though! Buy on dips.
Daily support/resistance on 15th May: 47.78, 47.71
Weekly support/resistance from 15th May - 19th May: 47.51, 46.88
Monthly support/resistance for May: 50.98, 49.79 (CLM7: 49.85, 51.17, CLN7: 50.15, 51.5 )
Monthly support/resistance for Apr: 50.81, 50.73 (CLK7: 50.88, 50.93, CLM7: 51.31, 51.38)
2017 Yearly support/resistance: 49.35, 40.28
Below is the possible moement. Friday is a doji. We should have a small trend this week.
Daily support/resistance on 15th May: 47.78, 47.71
Weekly support/resistance from 15th May - 19th May: 47.51, 46.88
Monthly support/resistance for May: 50.98, 49.79 (CLM7: 49.85, 51.17, CLN7: 50.15, 51.5 )
Monthly support/resistance for Apr: 50.81, 50.73 (CLK7: 50.88, 50.93, CLM7: 51.31, 51.38)
2017 Yearly support/resistance: 49.35, 40.28
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