- Crude oil 30 Minutes and one hour chart shows price trying to stay above 43.35 - 45 Levels which acted as resistance recently. Weakness in smaller time frames if price falls back below this level.
- One hour chart shows a good up move from 200 Hour SMA.
- 4 Hour chart shows the cloud of this time frame shown as crucial support for the reversal attempt.
August 11, 2016
- Crude oil 4 hour chart shows price trying to stay above the cloud. Crude bulls must stay above this cloud to keep the reversal pattern intact in Weekly time frame discussed earlier.
- One hour chart also shows price moving around 200 Hour SMA. Crucial level to watch is 41.06 staying above which crude oil bulls are safe.