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Crude Oil Technical Analysis For 07-April-2017
Home / Crude Oil Technical Analysis For 07-April-2017

H1 Graph

Major support at 52.25, pull back to this level buy with stop of 52. A bullish flag formation also support continuation. In case of continuation it can touch upper trend line at 53.50 and then can retrace back to the level of 52.

 

H4 Graph

With RSI getting over bought it will be a pullback situation. Already in a congestion area which you can see with red rectangle. Lot of support and resistances there but a major 88.6% retracement area prove to be a major resistance there. Pull back to 50 areas will be a buying opportunity.

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