CRUDE OIL Remains Vulnerable On Correction

8 July 2016, 14:42
FXTechstrategy
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CRUDE OIL: The commodity continues to face downside pressure weakening on Thursday to open the door for more weakness. On the downside, support resides at the 45.00 level where a break will expose the 44.00 level. A cut through here will set the stage for a run at the 43.00 level. Further down, support resides at the 42.00 level. On the upside, resistance resides at the 46.00 level. Further out, resistance comes in at the 47.00 level. A break above here will aim at the 48.00 level and then the 49.00 level followed by the 50.00 level. All in all, CRUDE OIL remains biased to the downside on correction

 

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