May 17, 2017

CRUDE Oil at 200 Day SMA

  • Price having closed below 50 Week SMA is finding it hard to move back above this line. 50 Week SMA line and 200 Day SMA on daily chart may continue to act as resistance for the current bounce.
  • Immediate strength and weakness can be seen in one hour chart. For now price is staying below One hour cloud which suggests strength for crude Bears.
  • S&P 500 Testing resistance zone