May 12, 2015

CRUDE Oil chart analysis

  • Crude oil triangle which was discussed yesterday has moved in favour of crude oil bulls. Now Bulls need a daily close above 200 SMA.
  • Price is yet to violate crucial support levels like 20 Day SMA or 4 Hour cloud.

1 comment:

  1. Everyone keeps saying this market is about to crash, what a load of crap.

    This chart says otherwise ==>

    1) The S&P 500 has repeatedly failed to break out decisively to new highs. This is making many traders a bit crazy, but a sideways movement within a narrow range is not a bad thing in the environment. Lowry’s, the oldest technical analysis service in the United States, said in a note to clients “the ability to consolidate gains by trading sideways is generally considered a sign of longer term strength.”

    All of yield curve-steepening is leading to some speculation that regional banks will benefit; the SPDR Regional Banking ETF closed at its highest levels since March 2014.

    And higher yields in developed markets attracts funds from emerging market currencies.