GCMAsia - Crude Oil
CrudeOIL
2017-03-27
| Resistance and Support | Level | Explanation |
| Resistance | 48.70 | Daily |
| Support | 47.15 | Daily |
CrudeOIL, Daily: Crude oil price continues to be traded within the range of 47.15 and 48.70 following previous plunge due to the formation of death cross by both moving average line. With regards to the MACD indicator which continues to hover outside of downward momentum, crude oil price is expected to extend its brief retracement period to hover within the range of 47.15 and 48.70 in the short-term. Otherwise, long-term direction still suggests crude oil price to extend its downward momentum.
Resistance level: 48.70, 50.25
Support level: 47.15, 45.00