February 3, 2016

Crude oil support and resistance levels

  • 4 Hour chart shows a possible falling broadening wedge. This can be a bullish reversal pattern bulls need to break and sustain above 34.81 levels for this pattern to start working.
  • First chart shows immediate support and resistance levels.

Crude oil chart update

  • Crude oil 15 Minutes continues to trend in favour of bears. But 4 Hour chart shows price testing crucial support zone at 29.25. If this holds there could be a bounce towards 32 levels again.