June 26, 2016

CRUDE Oil Weekend update

  • Crude oil Daily chart continues to trade above 50 Day SMA. Hope of a bigger fall for crude oil bears only if price starts to close below this line.
  • Price in weekly is trading in a 6 Point range between 45 levels and 51 plus levels. This range must be resolved on closing basis for bigger action to happen.
  • Weekly chart shows a bearish PIN BAR. 2 bearish candles followed the PIN BAR Keeping the bearishness of the candlestick pattern intact. For bigger falls price has to trade below 45 levels.

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