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120517 CrudeOIL

by | May 12, 2017 | Crudeoil | 0 comments

GCMAsia - Crude Oil
CrudeOIL
CrudeOIL
2017-05-12
Resistance and Support Level Explanation
Resistance 48.20 H4
Support 47.20 H4

CrudeOIL, H4: Crude oil price was traded lower following prior retracement from the resistance level of 48.20. However, as both MA line continues to narrow upwards and may form a golden cross signal, a closure above the resistance level of 48.20 would suggest an extension of upward momentum.

 

Resistance level: 48.20, 49.30

Support level: 47.20, 46.00