- Crude Oil touched a high of 106.33 and is correcting from there. But if continue to stay above the resistance band we will see crude oil prices moving higher.
- Crude Oil has given a breakout above the resistance line staying above 105 can target 108 for Nymex Crude.
- Crude Oil Hour chart is showing resistance between 104.10 - 104.40 level.
- Hour closing above this band will be positive for the bulls of crude oil.
- Failing to stay above this will be negative. Staying above 50 hour moving average is also important for the bulls of crude oil