Sunday, September 11, 2016

Crude Oil Trading: Weekends Post for the week 12th Sept - 16th Sept

CL is still moving in sideways. Friday has a bearish engulfing. It is moving around the mid of daily BB.

In the weekly TF, it is also at the mid of BB.

In the 5hr TF, price also at around mid of BB. 
The various TF mentioned, price is currently at around the mid of BB. It could mean a bounce is coming next week. holding below would be bearish short term.


Daily support/resistance on 12th Sept: 45.96, 46.46
Weekly support/resistance from  12th Sept - 16th Sept: 45.74, 45.80
Monthly support/resistance for Sept: 44.67, 44.28, 44.79, 44.66

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