GCMAsia - Crude Oil
CrudeOIL
2017-03-24
| Resistance and Support | Level | Explanation |
| Resistance | 47.95 | H1 |
| Support | 47.55 | H1 |
CrudeOIL, H1: Crude oil price was traded lower following a retracement before the 20-moving average line (red). However, as the downward signal line in MACD histogram continues to narrow sideways, crude oil price may be traded higher in the short-term as technical correction. Otherwise, long-term trend direction still suggests an ongoing downtrend as both moving average line extends its expansion while heading downwards.
Resistance level: 47.95, 48.25
Support level: 47.55, 47.25