August 14, 2016

CRUDE Oil weekend update


  • Crude oil weekly chart shows the attempted weekly reversal to form the right shoulder of an Inverted head and shoulders pattern. Only problem here is that the pattern and the current reversal looks too perfect.
  • Daily has sustained above 20 Day SMA. Next hurdle for bulls is the 50 Day SMA. Other possible resistance levels are also shown in chart 3.
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