Weekly

Chart Prepared by Jamie Saettele, CMT
DailyFX Trading Guides and Forecasts
-As noted in recent updates, a break above the resistance lines (short term channel and former downtrend support line) is needed in order to open up 38.00s. Crude pushed through the steepest channel lineā¦but continues to struggle at the longer held former support turned resistance line (goes back to February 2015). If a bottoming pattern of some sort is forming, then support should come in near 29.20.