March 31, 2016

CRUDE Oil candlestick Analysis

  • Crude oil month chart is trying to form a bullish formation. February Month candle confirmed a pause in selling as price came back to close near the candle high's. March Month though is closing well off the High's which is a worry for Crude bulls.
  • Weekly chart is trying to form a Pin Bar Kind of reversal formation pending confirmation from current week. Bears need current week candle to close near the lows to extend bearishness in to the coming week.
  • Daily chart continues to stay below 200 Day SMA which is a big worry for Crude bulls.