- Crude oil 4 hour charts with crucial resistance zone
- Price shows resistance between 45 and 47 level.
- Price is testing the 4 hour cloud here. If price manage to stay above the cloud then correction in coming days is likely to be limited followed by a bigger up move. If the current price test at the cloud by bulls fails then bigger correction and test of the recent lows are possible.
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- Possible support levels shown in one hour chart.
- ES Fib levels shows price falling towards Golden ratio
- 100 Hour SMA is a possible support line.
- If bulls unable to keep price above these levels means possible test of 2150 levels.
- Holding these levels means a bounce from 100 SMA.
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