November 1, 2016

CRUDE Oil Trend update

  • The 15 Minutes chart continues to trend. cloud of this time frame acting as resistance so far. This may change if the 100 Day SMA decides to act as support. If price moves above 15 Minute cloud from the current levels an up move is possible. On the contrary a close below 100 SMA means a fall towards the Rising support line of weekly chart.
  • The overall pattern will remain bullish till price stay above the rising support line of weekly chart.