The March
contract for light crude oil has made a very good bullish pullback from the
lows around the 28.00 zone to the 32.00 zone. On the 4 hour chart we can see
that the price has been breaking to the upside one round number level after the
other, but the 32.00 zone may act as resistance and price may go back to its
bearish longer-term trend. To the downside, the 30.00 level may act as support
in case the price drops back down.
Great analysis, thank you.
ReplyDeleteNice rally.
ReplyDeleteVery informative article, thanks for sharing!
ReplyDeleteThank you for the analysis, I will keep it in mind.
ReplyDeleteGreat analysis!
ReplyDeleteIt's up 9% in a day!
ReplyDeleteIt seems bulls will continue.
ReplyDeleteThe rise of crude oil was undoubtedly the main catalyst of Wall Street’s rise on Friday.
ReplyDelete