CRUDE OIL: With downside pressure extended on Wednesday, CRUDE OIL faces continued downside pressure. On the downside, support resides at the 28.00 level where a break will expose the 27.00 level. A cut through here will set the stage for a run at the 26.00 level. Further down, support resides at the 25.00 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance resides at the 30.00 level. Further out, resistance resides at the 31.00 level. A break above here will aim at the 32.00 level and then the 33.00 level followed by the 34.00 level. All in all, CRUDE OIL faces continued downside pressure on further weakness.
Get More Power Over Your Trading With Less Hassle
FXTechstrategy delivers powerful buy/sell trade ideas with stop losses, price targets and super-easy analysis to help you improve your results
GET MORE POWER OVER YOUR TRADING WITH LESS HASSLE
The Award-Winning Analysis Solution for Forex & Commoditidy Traders
Your trading, made easier
Get 15+ super-easy trade ideas with powerful daily analysis and easy-to-understand strategy eBook
Stay on top of every move with price action to help you make easier, faster, and more accurate trading decisions.
Whether your strategy is for day trading or swing trading FXTechstrategy analysis fits in seamlessly with no hassles.