- Crude oil Fib levels shows price taking support at 38.2% and is moving up towards the broken 23.6% levels which may act as resistance.
- Moving averages shows a similar picture price was not able to sustain below 200 Day SMA and is moving towards the broken 50 Day SMA which may act as resistance.
- Candlesticks shows a possible Bullish engulfing pattern.
- So short term crude oil may move up. Bigger up move once price move above 50 Day SMA and 23.6% Fib level.
No comments:
Post a Comment