We have published a detailed forecast and technical analysis yesterday. - See Attached -
After testing 52.70 Crude Oil prices dropped 2 USD triggered by the EIA Inventories Data.
As we have mentioned before 50.20 was a strong support.
The double Bottom formation has been completed. Crude Oil broke the 52.70. The target of the formation is 55.20.
53.13, 54.91, 54.69 will be the first three targets of the Crude Bulls.
Daily Closings above 54.59 will be the confirmation of the trend reversal from Bearish to Bullish.
After testing 52.70 Crude Oil prices dropped 2 USD triggered by the EIA Inventories Data.
As we have mentioned before 50.20 was a strong support.
The double Bottom formation has been completed. Crude Oil broke the 52.70. The target of the formation is 55.20.
53.13, 54.91, 54.69 will be the first three targets of the Crude Bulls.
Daily Closings above 54.59 will be the confirmation of the trend reversal from Bearish to Bullish.
Note
Update: Lates Chinese Data does not meet the expectations. This may add weight on commodity prices. Crude Oil moves below 52.37. Crude Prices need to make Daily Closing above 52.34 - 52.70 $ to continue its Bullish Move.
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Cycle Sniper Indicator: mql5.com/en/market/product/51950
Cycle Sniper Indicator: mql5.com/en/market/product/51950
Related publications
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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
Related publications
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.