Technical Analysis

Crude oil takes a glance beneath 200 hour MA for 2nd day in a row

Development line additionally breached however not working 

For the 2nd day in a row, the worth of crude oil has moved beneath the 200 hour MA (inexperienced line in chart) at 53.72.   The value has additionally moved beneath a pattern line at across the similar degree. The low reached $53.47 and bounced. We at present commerce above and beneath the 2 technical ranges because the market decides the following bias push.  

The final four days has seen the worth commerce between $53.29 on the draw back and $55.75 on the topside with up and down worth motion. 

Trend line also breached but not running 

Crude oil is settling the day at $53.66, just under the 200 hour MA and pattern line.  

The API will launch stock later at present. The DOE will launch their numbers tomorrow morning.  

ForexLive


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