30.03.202607:24 Forex Analysis & Reviews: Crude oil still seems to have the potential to continue its strengthening bias

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

[Crude Oil]

With both EMAs which intersect with a Golden Cross and RSI(14) in the Extreme-Bullish level, then #CL remains in a strengthening bullish bias.

Key Levels

1. Resistance. 2 : 107.19

2. Resistance. 1 : 104.14

3. Pivot : 89.07

4. Support. 1 : 95.08

5. Support. 2 : 89.07

Tactical Scenario

Positive Reaction Zone: If the price breaks out above 89.07, there is potential for #CL to move up toward 104.14.

Momentum Extension Bias: If 104.14 is broken, 107.19 becomes the next target.

Invalidation Level / Bias Revision

The upside bias weakens if the price breaks down below 89.07.

Technical Summary

EMA(50) : 97.77

EMA(200): 94.36

RSI(14) : 74.31

Economic News Release Schedule:

No economic data releases from the United States today, but Fed Chair Mr. Powell will deliver a speech at 21:30 WIB.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.