Crude Oil Key Reversal at Horizontal Resistance
22 Nov 2016 20:01, GMTDaily
Chart Prepared by Jamie Saettele, CMT
DailyFX Trading Guides and Forecasts
-Recent comments were that “Crude has lost its 2016 uptrend so pay attention to the 200 day average, which has been a big pivot for the last 2 years.” Crude turned up at the 200 day average but ran into a well-defined horizontal level today (11/22) and is therefore at risk of turning down again. Consolidation since the June high could end up as an ascending triangle.
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