CRUDE OIL Closes In On Key Resistance at 51.64 Zone

7 October 2016, 13:02

CRUDE OIL: The pair continues to strengthen as it closes in on its key resistance located at the 51.64 zone. On the downside, support resides at the 50.00 level where a break will expose  the 49.00 level. A cut through here will set  the stage for a run at the 48.00 level. Further down, support resides at the 47.00  level. On the upside, resistance resides at  the 51.64 level. Further out, resistance  comes in at the 52.00 level. A break above  here will aim at the 53.00 level and then  the 54.00 level followed by the 55.00 level. All in all, CRUDE OIL remains biased to the upside medium term.


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