Oil has a bearish week but bounced at the daily 20 sma or mid of BB.If it holds, it will test 50 again otherwise, it will drop to the ichimoku support below.
In the week TF, oil also bounced off the 20 sma or mid of BB. Whether it bounces or drop will depend on next week movement.
In the week TF, oil also bounced off the 20 sma or mid of BB. Whether it bounces or drop will depend on next week movement.
From the 4hr chart, currently the ichimoku is acting as a resistance. If it holds, downwards move shall continue.
Daily support/resistance on 14th Aug: 48.69. 48.48
Weekly support/resistance from 14th Aug - 18th Aug: 48.89, 49.10
Monthly support/resistance for Aug: 49.12, 47.03 (CLU7: 49.15, 47.12 ; CLV7: 49.28, 47.25)
Weekly support/resistance from 14th Aug - 18th Aug: 48.89, 49.10
Monthly support/resistance for Aug: 49.12, 47.03 (CLU7: 49.15, 47.12 ; CLV7: 49.28, 47.25)
Monthly support/resistance for Jul: 46.09, 45.61 (CLQ7: 46.13, 42.73 ; CLU7: 46.35, 45.92)
2017 Yearly support/resistance: 49.35, 40.28
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