GCMAsia - CrudeOIL
CrudeOIL
2017-10-06
| Resistance and Support | Level | Explanation |
| Resistance | 50.80 | H4 |
| Support | 49.85 | H4 |
CrudeOIL, H4: Crude oil price was traded higher prior its rebound from support level at 49.85. Formation of bearish hammer suggests possible downward bias, however, upward slope of MACD signal line does not support evidence for crude oil to trade lower at the mean time. It is advised to wait for further confirmation signal to trade the commodity.
Resistance level: 50.80, 51.45
Support level: 49.85, 49.10