will crude oil prices cross up the 50$
It was written and expected that the crude Oil prices made the last move from my last post Now crude oil achieving a year-to-date high above $46.80 per barrel yesterday, after all, the meetings and talking’s features crossed that OPEC heavyweight Saudi Arabia and Russia had consented to stop generation and others meetings and bla bla talks.
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| WTI |
Oil prices jumped last day, with crude oil prices reaching a year-to-date high
From looking at other measurements like crude stocks and cot position, my assumption is that crude oil will not cross this time 49.70 price levels, and I expect to see the crude oil makes some price range moves – check again the 40$ level, till June its look like that there will not be any new records above 50$ or below 40%
We can’t be bearish unless oil breaks through 37.40 ,we will be neutral with an option for another bullish run to 48-9 area or going down to test the 40 levels
majors support and resistance : 42 support and 47.20,48.60,49.70
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| crude oil |
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| crude cot data |
The question now is, will the oil stocks just made returning move – or its the begin of a more extended term
a more important rally, One key file might experience a test ,it could go far toward or just not
This review does not including any document and / or file attached to it as an advice or recommendation to buy / sell securities and / or other advice