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Crude Oil






4/5/2017 2:44:44 AM

Crude Oil - Technical Analysis: Wednesday, 05/04/2017 06:44 GMT



Crude oil price continued the rise to approach from our first target at 51.64, noticing that the price completed forming inverted head and shoulders' pattern, and breaching this pattern's neckline supports the chances of surpassing the mentioned level and push the price towards our next target at 53.02.

Thus, we are waiting for more rise in the coming period, noting that breaking 50.26 will put the price under negative pressure that will push trades towards 48.55 again.


Target
Risk


Support
Resistance


Trend Bullish

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