Sunday, December 3, 2017

Crude Oil Trading: Weekends Post for the week 4th Dec - 8th Dec 2017

In the weekly TF, we can see 2 hanging man and a shooting stars. It seems the uptrend should have a rest soon, with target at 0.382 retracement area. Wave 3 of the uptrend seems to be ending soon. Wave 4 coming with possible price level ~55. Buy on dip for wave 5.


Daily support/resistance on 4th Dec: 58.22, 58.09
Weekly support/resistance from 4th Dec - 8th Dec: 58.15, 57.87
Monthly support/resistance for Dec: 57.1, 56.47  (CLF8: 57.14, 56.58 )
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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