GCMAsia -CrudeOIL
CrudeOIL
2017-10-12
| Resistance and Support | Level | Explanation |
| Resistance | 51.35 | H1 |
| Support | 50.80 | H1 |
CrudeOIL, H1: Crude oil price was traded lower prior its retracement from resistance level at 51.35. Formation of engulfing candlestick pattern and negative divergence as portrayed by MACD signal line suggest crude oil price to undergo short-term technical correction to further its losses toward the support level at 50.80.
Resistance level: 51.35, 51.70
Support level: 50.80, 50.65