- Crude oil daily is testing the trend line once again. Most of the recent test of the trend line has worked in favour of Crude bulls.
- the support zone between 47 and 48 is crucial. If that level breaks then the trend line is not effective any more. If it holds another up swing towards 52 and 53 levels is possible.
May 1, 2017
- Twitter Month chart shows price trying to hold above crucial support zone.
- Weekly bullish candle shows a strong reversal attempt.
- Daily chart is still below the 200 Day SMA and there is a Death cross in chart. So for a bigger reversal Price must move above 200 SMA.