Crude Oil prices ended the week at 68.50 after testing 64.30 the MA 200 support of the daily charts. Bulls were ready at the main support. After three weeks decline, Crude ended the week with the gains.Dollar’s weakness is helping the Crude Oil prices to rise.
On the smaller chart timeframes, Crude Oil ended the week above the SMA 200 which is a good news for the Crude Bulls.
As seen on the H4 chart, price broke out the falling wedge – bullish continuation pattern – at 67.10.
A bearish harmonic XABCD pattern – Total – completed at 69.26 and Crude Oil prices tested 68.25 Fibonacci 23.6 of the CD. If the price breaks below 68.25, 67.90 and 67.50 can be tested.
Those levels can be used as buying opportunities targeting 69.50 and 70.25.
Break and close above 70.25 will carry the price 71.50 and 73.30.
On the smaller chart timeframes, Crude Oil ended the week above the SMA 200 which is a good news for the Crude Bulls.
As seen on the H4 chart, price broke out the falling wedge – bullish continuation pattern – at 67.10.
A bearish harmonic XABCD pattern – Total – completed at 69.26 and Crude Oil prices tested 68.25 Fibonacci 23.6 of the CD. If the price breaks below 68.25, 67.90 and 67.50 can be tested.
Those levels can be used as buying opportunities targeting 69.50 and 70.25.
Break and close above 70.25 will carry the price 71.50 and 73.30.
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Cycle Sniper Indicator: mql5.com/en/market/product/51950
Cycle Sniper Indicator: mql5.com/en/market/product/51950
Disclaimer
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Discord Channel : discord.gg/Ku9kzfq
Cycle Sniper Indicator: mql5.com/en/market/product/51950
Cycle Sniper Indicator: mql5.com/en/market/product/51950
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.