Crude oil Technical analysis
last month crude oil plunged 17% reached almost 50 –a bit over it, Whether oil has found support in the $ 50 area?
Earlier today, we got a report that a crude tanker was on fire in the Gulf of Oman- Oil rebounded from the lowest level in five months, crude oil futures rose more than 3%
I remain bearish on oil and in my opinion, this is a rebound that could allow a better entry into the position
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| crude oil analysis |
I wrote the last post: Does the violence that oil has experienced in the past two months come back like a boomerang?
yes, we got it – what next?
it all starts here: Oil is crashing – The marks were on the wall
crude oil technical analysis:
Short term bearish as long crude oil remain below 54.80-55.30
Medium-term bearish as long crude oil remains below 56.80+-
Long term bearish as long crude oil remain below 58.60+-
Suggest more down to test price below 50 $ such as 48 $ or even 45$
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| oil analysis |
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