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Crude oil: Susceptible But With Caution Above 45.21 Level

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 19, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    CRUDE OIL: The commodity may have closed lower the past week and reversed most of its previous week gains but on the daily chart it has put in a temporary bottom. This could trigger further recovery in the new week. On the downside, support resides at the 47.00 level where a break will expose the 46.00 level followed by the 45.00 level. A cut through here will aim at the 44.00 level. Conversely, resistance is located at the 48.00 levels where a break will expose the 49.00 level. A break above

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