Crude Oil Long-Term Technical Analysis: watch for key support to be broken for possible sell trade

Crude Oil Long-Term Technical Analysis: watch for key support to be broken for possible sell trade

30 November 2015, 18:11
Sergey Golubev
0
1 231

The price is on bearish market condition for the secondary ranging within the following key reversal support/resistance levels:

  • 54.00 resistance level, and
  • 42.18 support level.

RSI indicator is estimating the secondary ranging within the bearish market condition.

  • If the price will break 54.00 resistance level so the local uptrend as the secondary bear market rally will be started.
  • if price will break 42.18 support so the primary bearish market condition will be continuing.
  • if not so the price will be ranging within the levels.
Resistance
 Support
54.0042.18
66.32
43.11
69.57
N/A
The Long-Term Strategy: watch close price to break 42.18 support level for possible sell trade.
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