Crude Oscillating Between Well-Defined Price Levels
19 Apr 2016 18:55, GMTDaily
Chart Prepared by Jamie Saettele, CMT
DailyFX Trading Guides and Forecasts
-42.01-43.50 continues to cap strength. 42.01 is the low from March 2015. 43.56 is the January 2015 low. The importance of this zone cannot be understated. A break above the zone would shift focus to the May 2015 high at 50.88. Interestingly, the ‘Doha low’ registered at a well-defined level (August 2015 low and resistance in late December 2015). Respect upside potential while above that level.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.