Crude Well Supported on Dips
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Commodity Analysis: Crude is well supported on dips and near term focus remains higher towards the 2/25 high at 94.43 and former support at 94.94. Bigger picture, last week’s reversal, recent trendline resistance break and trendline support hold paint a bullish picture.
Commodity Trading Strategy: Bullish on weakness below 91.90
LEVELS: 89.33 90.25 91.70 93.69 94.43 95.89
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.