March 25, 2015

CRUDE Oil near resistance levels

  • Crude oil testing the broken support zone as shown in 4 hour time frame. This level may act as resistance.
  • Hour is showing good up move above the cloud. Breaking below the cloud at this juncture may lead to a bigger correction.
  • Bulls in daily chart is moving towards the daily cloud. Price is likely to target an area of cloud which looks thinner. If gets tested this level may not stop bulls from doing an upper breakout.

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