Crude 20 day Average Holding as Support
Prepared by Jamie Saettele
Bulls and bears are engaged in an intense battle in the crude market. Crude continues to hold above its 20 day average (as well as its 13 and 52 week averages) so a bullish resolution cannot be ruled out. However, the key reversal week during the first week of January is bearish (as long as the high remains intact). I am cautiously bearish as long as price is below 93.51. A move above there would shift focus to 97.83 (see above).
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