November 30, 2016

CRUDE Oil rises from 200 Day SMA

  • Crude oil daily chart shows price rising from 200 Day SMA.
  • Price testing minor resistance zone between 48 and 49. If price moves above this level then the weekly Resistance line shown in last chart will be tested. Weakness near 49 will keep price within this range between 43 and 49.
  • Weekly chart has a Big bullish pattern this will be activated only on a breakout above the resistance line near 52 levels for the current week.

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