August 16, 2016

CRUDE Oil Trend update

  • Crude oil daily testing 50 Day SMA.
  • Trend in one hour continues to favour crude oil bulls. Weakness if price starts to trade below the channel and 50 Hour SMA. Price falling below 50 Hour SMA can confirm weakness in Daily time frame as well.
  • Crude bulls need candle to close above 50 Day SMA to keep the trend intact.

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