Crude oil is very bullish on Friday. Not sure what is the bullish news. Could be contract expiration coming plus weekends coming, bears rushing to cover their shorts. Technically, price found support at the daily ichimoku cloud and now at resistance area - 20 SMA/200 EMA -- above 200 SMA. It is also at the upper channel trend line. A break would be victorious to the bulls.
From the weekly chart, price found support at the mid of BB as well as the ichimoku cloud. Could this be the start of a leg up?
From the 4 hour chart, price is at ichimoku cloud resistance. A pull back may be coming.
From the monthly chart, price is still bouncing from the mid of BB and as mentioned in the earlier posts, mid of BB (or 20 sma) is slopping up. Bears have to be cautious.
From the 4 hour chart, price is at ichimoku cloud resistance. A pull back may be coming.
From the monthly chart, price is still bouncing from the mid of BB and as mentioned in the earlier posts, mid of BB (or 20 sma) is slopping up. Bears have to be cautious.
Daily support/resistance on 21st Aug: 48.57, 47.92
Weekly support/resistance from 21st Aug - 25th Aug: 48.54, 47.81
Monthly support/resistance for Aug: 49.12, 47.03 (CLU7: 49.15, 47.12 ; CLV7: 49.28, 47.25)
Weekly support/resistance from 21st Aug - 25th Aug: 48.54, 47.81
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
No comments:
Post a Comment