GCMAsia - CrudeOIL
CrudeOIL
2017-08-21
| Resistance and Support | Level | Explanation |
| Resistance | 50.00 | Daily |
| Support | 48.50 | Daily |
CrudeOIL, Daily: Crude oil price remains traded within a narrowing triangle while recently retraced from the 20-MA line (red). Such price movement suggests its prices to be traded lower in short-term, towards the first target at 48.50. Otherwise, long-term trend direction could only be determined after a successful breakout from either side of the triangle.
Resistance level: 50.00, 51.50
Support level: 48.50, 47.00