GCMAsia - CrudeOIL
CrudeOIL
2018-05-30
| Resistance and Support | Level | Explanation |
| Resistance | 67.40 | H1 |
| Support | 65.75 | H1 |
CrudeOIL, H1: Crude oil price remains traded within a sideways channel following prior retracement from the top level. Stochastic Oscillator which illustrate retrace signal from the overbought regions suggests the commodity price to be traded lower in short-term after closing below the 20-MA line (red). Otherwise, long-term trend direction could only be determined following a successful breakout from either side of the channel.
Resistance level: 67.40, 68.30
Support level: 65.75, 64.05