Crude oil has a bullish week. There is a inside bar at the 200 SMA resistance. It could break out of 50 or back to ichimoku cloud support.
In the weekly chart, it looks like a bullish mat hold pattern in play. We shall wait for confirmation next week.
In the 4 hr chart, possible scenario has below.
In the weekly chart, it looks like a bullish mat hold pattern in play. We shall wait for confirmation next week.
Daily support/resistance on 18th Sept: 49.81, 49.77
Weekly support/resistance from 18th Sept - 22nd Sept: 49.47, 48.75
Monthly support/resistance for Sept: 47.40, 48.01 (CLV7: 47.41, 48.05 ; CLX7: 48.05, 48.38 )
Monthly support/resistance for Aug: 49.12, 47.03 (CLU7: 49.15, 47.12 ; CLV7: 49.28, 47.25)
Weekly support/resistance from 18th Sept - 22nd Sept: 49.47, 48.75
Monthly support/resistance for Sept: 47.40, 48.01 (CLV7: 47.41, 48.05 ; CLX7: 48.05, 48.38 )
Monthly support/resistance for Aug: 49.12, 47.03 (CLU7: 49.15, 47.12 ; CLV7: 49.28, 47.25)
2017 Yearly support/resistance: 49.35, 40.28
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