Oil prices continue to rise due to global events, Is this momentary or this is the direction for the future?
Crude oil technical analysis
crude oil continue climbing due to the risk came from conflict in Venezuela, a combination of events around the world could produce a period of price instability - the big question is how it could cope with those, without a significant impact on prices - unless if its only something momentary, that will pass soon.
as I wrote the last post: Does the violence that oil has experienced in the past two months come back like a boomerang?
yes, we got it - what next?
it all starts here: Oil is crashing - The marks were on the wall
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| Crude oil analysis |
Crude oil technical analysis
is the first time that price has traded above the white band! After the big jump last month, the trend has changed to bearish and 42 $ oil price level became support level, now we need to watch on 54 -56$ price area that may become short-term resistance area I am expecting to see retracement on those level to check again 48- 49$ price area if 51$ will break down break above 56 +_ levels price will send crude oil to cope with the 58-60+_ price level, while stay below 48 $ those levels will show us that this was just a correction for the big journey down oil experience since 76$
This review does not include any document and/or file attached to it as an advice or recommendation to buy/sell securities and/or other advice
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