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230517 CrudeOIL

by | May 23, 2017 | Crudeoil | 0 comments

GCMAsia - Crude OIL
CrudeOIL
CrudeOIL
2017-05-23
Resistance and Support Level Explanation
Resistance 51.30 H1
Support 50.70 H1

CrudeOIL, H1: Crude oil price remains traded within a tight range of 50.70 and 51.30 while currently closed below the 20-moving average line (red). Recent closure suggests crude oil price to be traded lower in short-term, towards the support level of 50.70. Likewise, long-term trend direction could only be determined after a successful breakout from either side of the range.

 

Resistance level: 51.30, 51.80

Support level: 50.70, 50.10