- US Dollar Chart Positioning Continues to Warn of Downturn
- S&P 500 Remains in Consolidation Mode Under 2100 Figure
- Crude Oil May Be Readying to Turn Lower Anew Below $59
CRUDE OIL TECHNICAL ANALYSIS
Prices pushed higher following a prolonged period of consolidation after bottoming as expected
above the $45.00/barrel figure. A Bearish Engulfing candle now hints a
pullback may be ahead. A daily close below the 14.6% Fibonacci expansion
at 53.65 exposes the 23.6% level at 50.37. Alternatively, a reversal
above the 38.2% Fib retracement at 59.08 targets the 50% threshold at
63.38.
