Crude oil analysis
as I wrote last month: Is there a negative deviation between the oil price and the technical parameters on the charts? as reflected so happened!
Oil prices founded difficult to stay at high levels prices , oil behaving strangely– we saw strange behavior – every time crude oil show strong move down it came back to higher numbers since may, but this month it’s not the case ! Crude oil reached all-time high since 2014 to almost 77$ and then went down sharp below 70$, meanwhile without any recover again – definitely, it is not late to arrive
what now?
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| Crude oil analysis |
Crude oil technical analysis
68 $+_ became a major resistance area
now we should pay attention to 60$ +_ price area
upper limits above 60 stay in 64.20 – 65.30- 66.20 area, break up those levels will send crude oil to cope with 68$ area again, while stay below 60$ above could send crude oil to lowers numbers
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| Crude oil chart |
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