June 20, 2016

Crude oil chart update

  • Crude oil 50 Chart trying to stay above 50 Day SMA. Weakness returns only if price closes below 50 SMA.
  • Weekly chart shows a contraction between the upper resistance zone of 50 - 51 and the rising support line. This contraction should lead to a bigger move soon.
  • 4 Hour chart shows possible resistance zone.