Crude oil is bullish before Opec meeting; keeps having new high. Would it reach 60 before before the meeting?
In the weekly TF, price is already at resistance zone. Any up move will be small and slow unless OPEC has very good news for the market this week.
The monthly chart below is showing the the resistance area and the likely movement.
In the weekly TF, price is already at resistance zone. Any up move will be small and slow unless OPEC has very good news for the market this week.
Daily support/resistance on 27th Nov: 57.4, 58.40
Weekly support/resistance from 27th Nov - 1st Dec: 58.45, 57.4
Weekly support/resistance from 27th Nov - 1st Dec: 58.45, 57.4
Monthly support/resistance for Dec: (CLF8: )
Monthly support/resistance for Nov: 53.75, 51.98 (CLZ7: 53.81, 52.15)
Monthly support/resistance for Oct: 51, 49.71 (CLX7: 51.14, 50.13 ; CLZ7: 51.46, 50.58)
2017 Yearly support/resistance: 49.35, 40.28
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